GM shares drop to 58-year low, global risks eyed - Reuters
 

http://news.yahoo.com/s/nm/20081009/..._autos_outlook

DETROIT (Reuters) - General Motors Corp shares fell to their lowest level since 1950 on Thursday as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009.

At its low, GM's market capitalization stood at $2.6 billion, compared with a market capitalization of about $4 billion in March 1929 before the stock market crash that preceded the Great Depression.

Wow thats depressing...... geddit? :1orglaugh

Worth less now than in the great depression, pretty sad really.

This shit is unreal. How this current admin has fucked up the whole world economy. Then again he has been a failure his whole life.

I hope all of you that voted for him, are last in the bread line.

The flaw in this is its the BANKS leading the collapse and that housing boom and ARM's adjusting.

Of course the bank collapse wouldn't be nearly as bad if THIS ADMINISTRATION didn't let so many jobs go overseas. The ONLY option is to give tax breaks to companies who create new jobs!

Of course less jobs would go overseas if it weren't for the FUCKING UNIONS! requiring $30+ and tons of breaks and making it impossible to get fired is without a doubt what has caused so much to go overseas.

Of course union greed wouldn't be there if we were hard working (unions have allowed laziness simply look at road constructions workers). Also the mentality of the employer "owing" you instead of "owning" you has fucked everything up. The fuckers in India will work 3 times as hard for 1 TENTH the pay.

So at the end who is to blame? YOU! Self entitlement and shitty work ethic has fucked the entire world!

Yes because they way wal-mart does things by paying employees minimum wage and thus causing many to still apply for and get welfare food stamps and medicaid all paid for by the TAX PAYER is sooooo much better.

The fact is it doesn't matter if unions were demanding $30 or $3 an hour. Even $3 an hour can't compete with 3 cents an hour in China. Quit blaming this on unions. By the way unions make up less than 10% of jobs so what explains the other 90% of jobs going overseas?

Three decades of foreign debt. Last trade surplus in 1975.

http://www.data360.org/temp/dsg270_495_600.jpg

oh dear :1orglaugh

Maybe if we quit giving tax breaks to companies to move their jobs overseas.

Maybe if these same companies paid a living wage, and not want slave labour so they can get their bonuses.

Maybe if we used the billions of dollars that we are spending in Iraq to upgrade our electrical grid, and infrastructure and only hired US companies, that use US labour, and US suppliers the economy would start rocking.

I'm so sick of everything going to the lowest bidder regardless of quality. I don't know about you, but I always pay a little more to get good quality and not buy the cheapest shit our there.

Maybe if we quit with the corporate welfare, and started helping out the people with some health care. Shit that has doubled in the 8 years of Bush...doubled.

Keep on blaming everyone but the fools in charge and see where it gets you. Fucking fool.

Never did I say the ones at the top shouldn't share some of the blame... people like you want to point to the top and not accept any of the blame.

There's people getting food stamps and bitching about the economy all While working 1 job and having no education.

The rule has always been if you want to get ahead either work 2 jobs or get a damn education!

I thought gm was a sinking ship for years now, now they can't borrow any more $$ to stay afloat so they are fucked, not exactly a shocker?

lutz, the head of GM, was on 60 minutes sunday yapping about his 2 private helicopters and 2 jets.

GM is also the corp to get the most of the 25 billion auto maker bailout bill the gov approved a couple weeks ago