Fallout From Wagoner Ouster: GM, Ford Shares Plummet
The markets are punishing shares of Detroit automakers GM and Ford following the White House ouster of GM chief executive Rick Wagoner.
Shares of GM are trading down 25 percent, while shares of Ford are trading down more than 7 percent. Chrysler is a privately held company (Cerberus Capital) and therefore does not trade publicly.
President Obama is discussing the automakers' plight now at the White House. Yesterday, he said that GM's and Chrysler's restructuring plans have not yet met the administration's requirements -- at least in Obama's view -- to run more efficiently.
Check back here to read what the president had to say.
March 30, 2009; 11:11 AM ET
Categories: The Ticker | Tags: Chrysler, GM, Rick Wagoner
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