General Motors headed for bankruptcy?
by Penny on November 11, 2008
I read with surpise that the General Motors (GM) in the US is in such bad shape that some analysts have forecasted that its share price will drop to zero. Analysts also think that it is headed towards bankruptcy or stay in a bankruptcy-like future.
GM is now in an urgent state to get financial aid from the government and it remains to be seen if this will happen. I won’t say more, because you can read all about it firsthand here on Channel NewsAsia.
It is scary what is happening around the world. Big names that we know of are now crumbling. Who knows, in the next decade, these companies that have made history being some of the largest conglomerates in the world will never be heard of again.
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A little bit about Penny, author of this blog
I want to learn the art of creating, managing and preserving wealth. It's not as easy as ABC but I believe it can be done well with lots of determination, discipline and perseverance. To date I've written 211 posts relating to money matters on this site.
I own a blogshop, Penny's Online Shop, offering trendy ladies apparels at very reasonable prices. I also write a shopping blog, a mummy blog as well as a contributor to a health & wellness blog.
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{ 3 comments… read them below or add one }
So will Toyota and Honda be the next car industry leader?
Horizon: Honda is already the first in the industry, and Toyota second. GM is gone. They’re only good in the States with 4wd and trucks.
By the way, I have a feeling GM is like our Proton, it’s hard to die.
Horizon and Alvin, a lot has happened in the automobile industry in the US now…the big 3s are down and out. Nothing really surprises us anymore, does it? What’s the world coming to?!