The Great Depression 2.0
What to Call the “Bad GM”?
The financial press is reporting that GM may file Chapter 11 next week. As part of this filing, they may split GM into two companies: a "Good GM" that will inherit the good assets and a "Bad GM" that will inherit the bad assets. The bad assets will be liquidated, with the investors receiving a small portion of their investment back from the liquidation. If this happens, what should the "Bad GM" company be named? What's your opinion?
The Great Depression 2.0
When the stock market started heading down over a year ago, I said I was always prepared for the DJIA to lose half its value. But if it fell more than that, prepare for the worst. Now it has happened. It closed today at 6,594, much less that half its peak value of over 14,000.
Obviously, we aren't in 1933 conditions yet. The national unemployment rate is now 7.6%. In 1933 it was near 25%. In the early 1930s the DJIA lost 90% of its value. How bad will it get this time around?
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