Today on ABCNews.go.com there is an article advising people not to buy GM stock. The stock currently trading contains the unwanted assets and unsecured claims of the old GM spun off as part of the bankruptcy process. The old GM as represented by Motors Liquidation is entirely separate from the new General Motors Company, a privately held company at this point owned mainly by the U.S. government.
On the same website there is an article stating that "Cash For Clunkers Helps Give GM A Boost". Okay Barack there is where you lost me. From the article- To meet the increased demand for vehicles that is expected to last even as the clunkers program comes to an end, GM is adding shifts at a plant in Ontario, Canada where the Chevy Equinox and GMC Terrain are built,.." Hello, how is that helping America???
BTW if you care to look at specs the Equinox gets 17 city/ 24 highway and the Terrain with a 6 cylinder engine gets 17 city/ 25 highway. I guess its Cash To Buy Clunkers That Non Americans Make!!!
More on the plea from Canada to Barack for help!! GM Canada recently declined the loan because it said it was able to temporarily support itself through "cost-saving measures." The Canadian automaker said it will still seek money from the Canadian governments to help execute its long-term plan....Should have said American Government but who's noticing.
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