In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 2:02 AM
Their stock price is down because they do business in Europe and the European economy is in recession. Their European operations are bleeding cash, but so is everybody else’s. If you compare GM to Ford, GM’s market share is down, but so is Ford’s. GM’s profits were down 41% last quarter, but Ford’s were down 58%. GM’s stock closed at 21.33 on Thursday, up 6% on the day. Ford’s closed at 9.59, up 1% for the day. I don’t see anyone doing pieces that say that Ford is headed for bankruptcy. I’m not picking on Ford. I admire what they’ve been able to do. I’m just using them for comparison because they seem to be everybody’s example of how to do it right.

Despite being touted as a success by the Obama campaign, the taxpayer funded bailout of General Motors has been the opposite. The company still owes Americans $42 billion and its stock is doing poorly. Charles Payne from the Fox Business network thinks the company is on the verge of bankruptcy and will need another bailout in the near future.