From Inside line
DETROIT — General Motors stock tanked precipitously by 30 percent on Monday on news that Deutsche Bank analysts called the stock worthless — and predicted the company could be out of cash as soon as December. GM stock is at its lowest level in six decades, hitting a new low of $3.08 on Tuesday morning
How the mighty have fallen, GM… once the 800 pound gorilla of the business world is now on life support and begging for a handout from the government.
Ironically with all the bad news about the auto industry and GM and Ford/Chrysler in particular, all these companies have vastly better products for sale now and in the pipeline than they’ve ever had in the
past.
Unfortunately all three are the victims of a perfect storm of lingering bad public perception, a meltdown in the economy and the distaste left in the minds of the truck buying consumer after gas prices reached stratospheric levels earlier in the year. The help cant come soon enough.
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