Monday, June 1, 2009

GM raising more questions than answers

As expected, GM will be filing for bankruptcy protection today.  They join Chrysler in becoming another Big 3 automaker taking a road no one could have predicted even 5 years ago.  With today's filing comes a lot more questions than answers as to the future of this American icon.  What will happen to all of the GM bondholders?  How will the "new" GM compete in the future?  Who will buy Hummer and what will happen to Saturn?  Who will replace GM in the Dow 30?  How will the closing of 2600 or so dealerships nationwide affect the national economy?  What has Al Koch been up to since he helped Kmart emerge out of bankruptcy?  It will be interesting to see how this all places out over the next several months and most likely years.  You know what song I haven't heard on the air in a while?  Bob Seger singing, "Like a rock"!

2 comments:

Rich in Cincy said...

I think GM distanced themselves from that Bob Seger song when their market capitalization took on it's attributes when it began sinking "like a rock"...

Scott Wheeler said...

True that, Rich!