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GM Plant Closings and future stock

 

GM - <strike>General</strike> Gov't Motors

Today is a big day for many wondering about GM plant closings. Where I live, I know probably a half dozen people who are work at GM. The Spring Hill, TN plant makes Saturn cars and is one of the plants being considered. I spoke with one of the guys on Saturday and he has no idea what is going to happen. I read the stories about employees not being able to sleep, etc and feel for them. The auto industry is having a really tough time and it’s amazing how many people are affected by it. 

 

They are declaring bankruptcy today and will eventually emerge from bankruptcy. The plan is to emerge from bankruptcy with a better balance sheet and profitability if GM can sell 10,000,000 cars a year. Would you buy their stock? Knowing we (American Taxpayers) own GM, will you guy a GM product so we can get a return on our bail out money? If America gets behind GM, is Ford screwed because the Federal Government has a more vested interested in protecting their GM interests? 

Will I eventually buy GM stock? hmmm…that’s a good question. 

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