BloggingBanks

GM Shares Just Won't Quit

That's really funny. I recall when Delta was in Ch 11, its stock went to $3 when during the later part of 2006 and early 2007, US Airways Group, holding company for US Airways, proposed an acquisition of Delta Air Lines. The combined entity would have been operated under the Delta name. This attempt was withdrawn after failing to gain support from Delta's major creditors and opposition by Delta management. Old Delta Airlines stock fell to zero, and the company emerged from bankruptcy in 2007. The "old shareholders" were wiped out. I think old GM is still trading at $1 since it is almost impossible to sell short the stock.