Thursday, October 9, 2008

Ford, GM Stock Fell Dramatically Today.

Prices of General Motors Corp. and Ford Motor Co. stock took a big dive Thursday as the Dow Jones Industrial Average fell 678.91 points. GM's stock price plunged $2.26, or 30 percent, to close at $4.65. That's the lowest price for GM stock since March 1950. Ford's stock dropped 53 cents a share to close at just $2.14 a share. Analysts attributed the declines to an announcement by Standard & Poor's that the ratings agency was considering downgrading the companies.

GM has been creating videos called "The Case for GM" that feature executives talking about why the automaker will overcome the current crisis. Here's a message from GM CEO Rick Wagoner that was posted on Sept. 25:


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