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New York - Is General Motors or Ford Headed For Bankruptcy? Shares Trade At Lowest Level In Their History |
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Oct 07, 2008 at 03:49 PM
News Source: VIN News
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Ford shares fell 71 cents, to $2.98 in late afternoon trading. a trade not seen since November 1985, according to the Center for Research in Security Prices at the University of Chicago. The price is adjusted for splits and other changes.
General Motors needs cash so desperately that it just might sell its shiny, brand new headquarters in downtown Detroit.
The troubled automaker said Tuesday that it may put its downtown Detroit headquarters on the block in order to shore up capital. General Motors Corp. fell 69 cents, to $7.79. a trade not seen since 1953.
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Auto sales have remained weak this year, with September sales falling below 1 million vehicles for the first time in more than 15 years.
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Read Comments (7) — Post Yours »
1
Oct 07, 2008 at 04:09 PM Anonymous Says:
Wow this is great lets see how much worse it can get...vote to continue Bush's failed policies McCain/ Pallin 08'
2
Oct 07, 2008 at 04:07 PM Anonymous Says:
There's nothing wrong with a little parnosso, but our society's total fixation on money is just another form of avoda zora, and like all avoda zora, people eventually see it for what it is and it comes crashing down.
I've always found it profoundly embarrassing that in the richest country on earth, we can have billions and billions of dollars tied up in this parasitic industry, with individuals raking in hundreds of millions apiece for doing nothing for society, while others have trouble putting food on the table or can't afford good health care. My father always says that societies ultimately get what they deserve, and I'm afraid the matzav today is only proving him right.
3
Oct 07, 2008 at 06:15 PM Babishka Says:
Anon @4:07
You may think Ford and GM have nothing to do with you, but there are Yidden who work in the auto industry and this is what puts food on their table.
4
Oct 07, 2008 at 06:40 PM Anonymous Says:
Germany 1930s all over again.
5
Oct 07, 2008 at 08:00 PM Avraham Abba Says:
The average citizen is not running to buy a new car nowadays. He's running to save his family.
6
Oct 07, 2008 at 09:37 PM Mr.Honesty Says:
These thieves deserve to go bankrupt they cheated the hardworking middle class Americam consumer by intentionally producing defective non durable cars that would not last in order to force people to buy new cars sooner therefore I feel all hard working middle class american consumers should buy domesticly assembled Japanese cars and that would keep the jobs in the USA and it would put these corrupt executives in the poor house where they deserve to be.
7
Oct 08, 2008 at 01:58 PM tzibrochenkup Says:
They are not going to go bankrupt the Federal Govt will bail them out and than all the executives will spend a weekend (like the AIG execs after they got 85 billion dollars) at a posh resort at $1000 a night plus spa treatments, massages, manicures and all other taives.