Kausfiles is reporting today that GMs sales are down 45% and Chrysler is down 42% vs last year. If I heard that a company had lost that big a percentage of its sales in the last year, I'd be thinking how glad I am I don't own any of its stock, and that news of a complete shutdown is looming on the horizon. Kaus thinks they won't last past the end of next year.
I think that without more bailout money, neither one would last that long, but fortunately for the UAW, there is an election next year, and closure of those two would probably give the republicans a clean sweep in the elections.
I'm going to stick my neck out here, and put my pool marker down like this: The election is Thursday, Nov 4th. The announcement of the closure of one or both of the companies will be made Friday, Nov 5th at 5:02 PM EST.
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