General Motors falling stock sparks turmoil
Filed under: Business, News | By: Peter Chubb
Posted on: October 10, 2008 | 1 Comment
Shares of General Motors fell $2.15 yesterday, with a drop in 31.1% their shares closed at $4.76. This is the lowest GM’s stock has been since April 1, 1950, when it closed at $4.74. This is a stark contrast to a year ago, as GM registered a 52 week high, shares closed at $43.64.
These are now worrying times for GM, as they are just holding on in a time when other businesses are failing. There is no doubt that GM along with other automakers like Ford will come through this and make it to the other side.
The problem that GM face for now, is what happens while they are trying to ride out the storm. These are uncertain times, one that share holders and workers will fear. GM has some tough choices to make, and it will be felt all the way through the organization.
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i am happy to see gm going down , as their products are just plaingarbage , not all of them , but most .
for instance , gm began putting plastic intake manifold gaskets since the early 90 ’s , and have not improved since then , whenever i ordered new parts from gm . i was told they were ” improved ” , only to see the same low quality of gaskets , and still they use it on new 2008 , vehicles , , figure it out and now they wonder why ? .
they deserve it , out of the big 3 , GM is the worst