Friday, May 29, 2009

GM Goes Bankrupt

That's the chart over the past week. GM stock trades at about 78 cents currently. Its bonds trade around 5 cents on the dollar. The UAW recognizes the problem, offering to no longer demand free dental and Viagra! I can't wait to see the Chevy Volt in 2010. Sounds like a decent golf cart.

1 comment:

Plamen said...

Here I asked why GM was not trading at $0.01? Yes, I understand option value quite well, and still, may I ask the same question again?

And, if you'd allow a shameless plug, here is something I wrote a while ago on the UAW.