Home › Forums › Financial Markets/Economics › GM the Auto maker down 90% thanks GMAC and the Subprime
Found this today on MSN.. It shows, once again, how this housing bust will really start to reach into the pockets of the economy.
http://articles.moneycentral.msn.com/Investing/Dispatch/070503markets.aspx
That’s what happens when you make cars, but only make profits because of the financing branch of your company. Maybe they should have sold more than a 51% stake in GMAC last year…
That’s also what happens when you made sh*tty cars or gas gushers when gas is nearing 4 bucks a pop.
However, sharing platforms with GM Europe and bringing car designs from GM Europe here was the best decision GM made.
Ford and Chrysler on the other hand……..
MANmom
And paying union members not to work, so-called “job banking” is bankrupting GM, too. Get out if you own any of this stock.
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