On Thu, 04 Dec 2008 19:51:11 -0500, Wes wrote:
snip
GM needs to root hog or die.
snip
They should be so lucky.

GM is gone by any rational standard. The currently have
*NEGATIVE* 58 billion stockholder equity.
http://www.businessweek.com/lifestyl...573_page_3.htm

A major "plank" in the GM "recovery" plan is getting their
unsecured bond holders to swap 32 billion in debt for equity
[stock]. see page 11
http://banking.senate.gov/public/_fi...ssionFinal.pdf

The current market cap for the GMC is 2.5 billion, so the
proposed debt for equity swap is about 13X current market cap.
[Dream on -- I am surprised they didn't ask Wagner to pee in a
bottle to see what he is on -- must be some really bad stuff]
http://finance.yahoo.com/q?s=gm

Ford appears to have a real chance of survival, possibly with
taxpayer loan guarantees, and Chrysler *MAY* have a chance as a
niche player [minivans] and contract producer for VW, *IF* they
can pick up some of the GM business, and with considerable help
from the taxpayers.


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).