DETROIT (Reuters) – General Motors Co (GM.UL) said on Monday it lost $1.2 billion in a bankruptcy-shortened third quarter, but it vowed a quick repayment of $8 billion owed to the United States and Canada.If you remember this guy on the left congratulations you are an old fart like me!
I guess I should be happy about this news from GM but to me it looks like they took the money with their left hand, screwed the employees, shareholders, creditors, and pension funds, then are giving some of the money back with their right hand. The patient is still bleeding all over the operating table. Strange strange behaviour in corporate america these days.
Well we launched right out of the open as Timmy and Ben both sat on the buy button with their big butts after wolfing down their egg-a-muffs. Sorry about the quick bail this morning but my "spidey sense" went off and I wanted everyone to exit with at least a small profit. My hunch also proved correct because the pick went pretty much nowhere the rest of the day. No new setups for tomorrow so you have the day off to watch Ophra!
