Posted on 06/26/2008 5:55:45 AM PDT by jalisco555
NEW YORK (CNNMoney.com) -- Why is General Motors still in the Dow?
GM (GM, Fortune 500) may still be the biggest of the Big Three. But it's getting more and more difficult to justify keeping GM in the Dow Jones Industrial Average, an exclusive list of what's supposed to be the 30 leaders in the U.S. markets and economy.
GM confirmed on Monday that it is looking into selling its Hummer brand of monstrously-sized vehicles. And in a major sign of desperation, it also announced that it would offer six-year, zero-percent loans for 2008 models until the end of June in an attempt to clear out inventory.
The stock traded close to a 33-year low on Monday, and the company now has a market value of about $7.5 billion, the lowest in the Dow. The next lowest is Alcoa...and it's still valued at $30.3 billion, more than four times as much.
Heck, even Ford has a bigger market value, at $11.9 billion.
(Excerpt) Read more at money.cnn.com ...
ARGGHGH!!! I wanna eat, darn it!
Donning my tin-foil...I wonder if GM is putting out these numbers just so they don’t have to pay the buyouts and the new retirees? The pension was fully funded, still should be, but one never knows what bankruptcy would do.
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