GM, Ford, Chrysler sales drop in June while Japanese gain.
But fear not fair friends, US automakers are going to have a huge comeback with Volt + A123... yeee hawww... saddle up boys, get ready to haul around 30% of your battery weight and an extra fan and cooling pipes for the battery packs, it's gonna be one "hot" ride.
some are quite angry to say the least over the gm bailout.
If Treasury, which will reduce its stake to about 19 percent when the buyback closes this month from about 26 percent at present, sold its remaining stock at the price GM is paying now, it would come up short by more than $12 billion.
"GM wins," Jefferies analyst Peter Nesvold said, pointing to the elimination of the government stake that has been acting as a drag on the stock price and to eventual higher earnings per share. "From a government standpoint, it's a mixed bag, but they went into it to save jobs, not as an investment." He said the buyback was lower than the $30 a share he had expected at the very least and was occurring earlier than anticipated.