GM Executives Cash Out As Bankruptcy Looms

That is scary news. They must really feel the shares won't recover to take such a low price.

On a brighter note.. if the shares do recover (and I believe they will) these guys will have lost a fortune.

We have too much class envy already, so don't need more. If I owned GM stock, I would have cashed out by now also, as would most. Much as I hate to say it, I think GM's bankruptcy is inevitable by now, and the stock will be worthless by then.

GM Total Confidence right?

A GM bankruptcy was inevitable from the start. No amount of government intervention was going to save them. All it served to do was create more national debt and poorly allocate resources that would've been better used elsewhere.

GM should've passed on the handout and filed chapter 11 in the first place.

sigh... only if they would have spent more $$$ in true R&D, got rid of the UAW, got rid of that thinking "oh... this is what American people want" mentality, stopped making junks like the HHR, and made better use what all that platforms that GM has in the overseas. The Buick Park Ave is an excellent car just as the Holden Statemen in Aussie land and Chevy Caprice elswhere, but what did we get here in the states? A G8, which was a very good car in my opinion but lacks the refinement of all the others plus it came with an ugly hood (again, that "this is what American people want" mentality with the hood scoop). All they had to do was to bring in those fine cars and sell them here. The G6, which shared its platform with Opel and Saab, was a very nice daily car that came with a very very bad interior. The Hummer... I laughed everytime I saw someone driving a Hummer on the freeway because those things belong to the military, not on regular streets! The Corvette, an American legend, was stuck with the econ car interior... the list would just go on and on and on...

You really gotta wonder who was willing to buy. Talk about your major speculative purchases. Do the grave dancer investors actually think they have a better handle on GM's bankruptcy odds than Lutz?

made me wonder for how long they have been unloading their shares.

The only sure bet with GM stock is the short sell. If Scottrade would let me, I'd short sell the hell out of GM.

GM, as well as Ford and Chrysler, cannot and could not have gotten rid of the UAW. Although clearly detrimental to business, consumers, *and* the union workers, that adversarial and outdated model of labor against management is protected by so many state and federal laws.

I wish Detroit could have fired every UAW member who threatened a strike or carried it out, in order to hire people who actually cared about doing the best job they could for the company who hired them at a wage that both parties agreed to. Instead, the union thug boss mentality is to extort more and more from the companies who gave them the jobs.

Alas, Detroit had no choice but to deal with a failing labor model that will now be propped up by The General Secretary and his minions.

"I wish Detroit could have fired every UAW member who threatened a strike or carried it out, in order to hire people who actually cared about doing the best job they could for the company who hired them at a wage that both parties agreed to. Instead, the union thug boss mentality is to extort more and more from the companies who gave them the jobs."

very true... very sadly true...