GM BREAKS THE BUCK (GM)
General Motors Corporation (NYSE: GM) is soon to cease being a public stock for some time, if all the recent reporting and all the jaw-boning is correct. The stock itself is showing fresh evidence of this by doing what previously…
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Many are now calling GM by the name of Government Motors. We think Goner Motors is more appropriate of a name if this won’t trade as a public stock after this week for a period of six to eighteen months.
With shares under the $1.00 mark and with little to no residual value, it is amazing that the stock didn’t “break the buck” earlier this week.
It is only a matter of time before the Dow Jones Industrial Average boots GM out as one of its 30 members. It would seem that the only reason GM hasn’t been booted yet is maybe tied to politics more than reality. We gave our full list of stocks we think should replace GM in the DJIA.
Jon C. Ogg
May 29, 2009
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
