General Motors Drops to Lowest Price Since 1933

Shares of Government Motors (GM) got down to $1.09 today which is the lowest price since 1933. It’s so bad at GM that even the execs have dumped their shares:

General Motors Corp. reported that six executives sold shares in the company, as the largest U.S. automaker said it’s more probable than previously thought that it will need to file for bankruptcy.
Vice Chairman Bob Lutz and North America President Troy Clarke sold all their holdings in the Detroit-based company, according to regulatory filings today.

The upshot is that this was the first smart move by GM execs in decades. (Ooohh, burn!)

Posted by on May 12th, 2009 at 10:29 am


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