$10.00 GM stock price is what I see as a major technical level to regain back to and trade at for some time....
I do wish Bloomberg & CNBC and others STOP saying daily 24/7 "bailout" as this is not accurate terminology! A bailout is not a loan but welfare.... This is a loan with very tight restraints at best and funny how you hardly hear of the "bailout" which indeed the banks received in the amount of more than 20 times what the major auto mfgrs were even speaking of requiring.. Major Banks got a "bailout"- FREE monies wiht no oversight or conditions to date nor disclosure, yet the auto mfgrs only wanted a loan which is coming with extremely harsh terms; so who really is more deserving of help when you compare the two scenarios??
They will survive long term and will be forced to make changes especially the hard core union structure which is what has been eating away at all car mfgrs for decades to meet and in this new world, the unions are going to become a thing of the past like everything else that once was "Made in USA"...
Since the auto mfgrs were an icon for decades as was the majority of US citizens middle class, there no longer is a majority middle class in the USA as there always used to, so major adjustments will come about regardless what emotions or feelings people may have, as we have changed this nation at its fundamental roots so people need to stop looking back and comparing it to what it was or used ot be as the New World Order of global business we are in has taken away the individual identity of the USA as She always had previously.
