http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20081226&id=9475939
I really hate to see the US auto makers struggling. I know a lot of the problems are their own fault, I am not arguing that. I just think the only thing worse than GM would be a foreign owned GM.
yeah, losing gm if it were to happen isnt going to be a good thing for anybody. hopefully things get sorted out. hopefully everything turns around.
"Shares of GM rose 41 cents, or nearly 12.6 percent, to close at $3.66 Friday. Late Wednesday the U.S. Federal Reserve granted bank holding status to its financing arm, GMAC Financial Services, which made GMAC eligible for funds earmarked for the government's $700 billion bank rescue plan and saved it from possible bankruptcy. The move came just days after the White House threw GM and fellow Detroit automaker Chrysler LLC a $17.4 billion emergency lifeline."
I actually did a fist pump when I read this.:hick: It's good to see them holding on, since they're making the best cars they ever have right now (and still lots of mediocre ones).
As for foreign ownership, I think you'd see GM as a federal corporation (I tried to type Crown Corporation in there) before a foreign one.