This is one sad day, GM is is imploding. The stock is now at 1950's values, below $5, down over 30%.
Standard & Poor's Ratings Services placed GM's debt on CreditWatch with negative implications, meaning the automaker's credit, which is already in junk territory, could face another downgrade
They are heavily affected by the credit markets and as we all know, are also operating at a loss.
This is really bad because of course much, much too late, GM just started bring jobs to Flint Michigan...as well as a plug-in electric. If this goes the way it looks like it maybe going, might the United States nationalize GM for jobs and manufacturing? (This is a question, leave a commment).