GM Employee Stock Fund Dumps GM Shares - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Fireball · 04-25-2009, 07:48 PM

The General Motors Employee Stock Fund has unloaded all its shares of GM stock in anticipation of bad things to come for GM. The fund is in cash and short-term investments.

http://finance.yahoo.com/news/GM-emp...&asset=&ccode=

UCF w00t · 04-25-2009, 07:54 PM

I wonder how the employees feel about that. I mean it's probably a wise move but still not a good feeling to have such a lack of faith in the company you work for.

oldtransam · 04-25-2009, 08:38 PM

I suspect it was a fiducial responsibility for the company to do that. Knowing what's probably coming, the avg $1.90 they sold the shares for is better than near zero. Feel bad for many of those employees who had most of their retirement savings in GM stock.

BackinBlackSS/RS · 04-25-2009, 08:39 PM

Man, I hope this all works out.

Zabo · 04-25-2009, 09:21 PM

Oh come ON.. I mean sure it makes financial sense and essentially GM Stock is considered Junk at this point..

Oh wait..

;_;

04-25-2009, 07:48 PM	#1
Fireball Drives: Turbocharged Join Date: Mar 2009 Location: USA Posts: 99	GM Employee Stock Fund Dumps GM Shares The General Motors Employee Stock Fund has unloaded all its shares of GM stock in anticipation of bad things to come for GM. The fund is in cash and short-term investments. http://finance.yahoo.com/news/GM-emp...&asset=&ccode=

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04-25-2009, 07:54 PM	#2
UCF w00t Geek Drives: IOM 2010 Camaro 2SS Join Date: Oct 2008 Location: Orlando Posts: 4,451	I wonder how the employees feel about that. I mean it's probably a wise move but still not a good feeling to have such a lack of faith in the company you work for.

04-25-2009, 08:38 PM	#3
oldtransam Drives: Some old Firechickens Join Date: Jan 2009 Location: Out in the Garage Posts: 43	I suspect it was a fiducial responsibility for the company to do that. Knowing what's probably coming, the avg $1.90 they sold the shares for is better than near zero. Feel bad for many of those employees who had most of their retirement savings in GM stock.

04-25-2009, 08:39 PM	#4
BackinBlackSS/RS Go Blue!!!!! Drives: 2012 Cruze LT Join Date: Mar 2009 Location: Indiana Posts: 23,290	Man, I hope this all works out.

04-25-2009, 09:21 PM	#5
Zabo Gunning for Sixth Drives: '03 ZR2 Blazer Join Date: Sep 2008 Location: Woodhaven, Michigan Posts: 9,358 View My Garage	Oh come ON.. I mean sure it makes financial sense and essentially GM Stock is considered Junk at this point.. Oh wait.. ;_;