General Motors' share price collapsed to its lowest level in 50 years
4 July 2008

Shares in General Motors collapsed this week to their lowest level in 50 years when a leading bank said the car giant could become bankrupt.John Murphy, a leading analyst at Merrill Lynch, said: "Bankruptcy is not impossible if the market continues to deteriorate and significant incremental capital is not raised."The share price closed at $9.98 on Wednesday, compared with a high of $93.60 in April 2000.A GM spokesperson said: "We continue to believe the company has sufficient liquidity for 2008 despite lower volumes," although city analysts believe the company may need to raise as much as $7.5bn during the ongoing credit crunch to see out the current downturn in car sales.In America, large companies can continue to trade under the protection of Chapter 11 bankruptcy. Several airlines are currently under Chapter 11 protection, and Boeing has been in the past. GM was reported to have come very close to entering Chapter 11 bankruptcy in 2005.

Our Verdict

Vauxhall VRX8 2011-2012

The Vauxhall VXR8 is an unsophisticated sledgehammer that is engaging, entertaining and very different from the German super-coupés that it rivals

Find an Autocar car review

Driven this week

Join the debate

Comments
10

4 July 2008

Isn't there a 't' in bankruptcy?

22 September 2018

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Magento 2 migration kerala

30 September 2018

Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. חבילת נופש

20 October 2018

i am hoping the same satisfactory effort from you inside the well along as expertly. In reality your creative writing capabilities has stimulated me. pills to make your booty bigger

21 October 2018

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post! Read More

21 October 2018

thanks for the rosy weblog. It turned into without a doubt useful for me. i am happy i found this blog. thanks for sharing bearing in mind us,I too constantly examine some thing secondary out of your pronounce. natural breast augmentation

27 October 2018

that is such a pleasing aid that you are supplying and you've sufficient infant guide it away for market now not responsible. I appreciate seeing blog that let to the price of supplying a sense aid for pardon. GE Monogram Appliance Repair in Anaheim

16 November 2018

Comfortably these pages will more than likely irrefutably actually turn out to be reputable involved with a large number of web logs humans, towards her persistent content or probably sentiments. judi online

6 December 2018

Learn Quran Online Classes for kids, Quran teacher for beginners, female Quran teacher for your Kids and Adults via Skype Quran classes Kids Quran Classes

wqwqwqwqwqwqwq

29 December 2018

Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors. zong speed test

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week