Cars and Drivers
GM (GM) Chapter 11 Odds Moving Up To 25-To-1
Published:
Last Updated:
Last week, 24/7 Wall St. listed GM’s (GM) odds of filing Chapter 11 between now and the end of the year at 30 to 1.
Wall St. seems to think things are getting worse, especially as the cost of oil stays high and US employment levels are worsening.
Today, GM’s shares are off 6% to $14.77. They hit a similar level in 1974 at the end of the Arab Oil Embargo. With crude at current prices, the embargo might as well still be on.
Most of GM’s cost cutting is behind it. The period when it could drop several billion dollars of expenses out of North America ended last year.
Big problem. No solutions. New odds, 25-to-1
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
