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Buy, Sell or Hold Insight: GM Remains a High Risk Profit Play, Even as it Files its Turnaround Plan Today
With America’s “Big Three” automakers all due to submit turnaround plans to Congress today (Tuesday) – a requirement if General Motor Corp. (GM), Ford Motor Co. (F), and Chrysler Corp., are to receive $25 billion in government loans – I couldn’t help but recall the moment eight years ago when I realized the U.S. auto industry was skidding toward a financial collapse.
I’ve been thinking about that market call of mine a lot of late, particularly after recently reading that JP Morgan Chase & Co. (JPM) credit analysts had rated GM’s distressed debt as a “Buy,” noting that the company was…
2Dec2008 | Money Morning | 0 comments | Continued
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