By Rick Aristotle Munarriz
Stupidity is contagious. It gets us all from time to time. Even respectable companies can catch it. As I do every week, let's take a look at five dumb financial events this week that may make your head spin.
1. This car is going to get totaled
General Motors (NYSE: GM) announced plans for a 1-for-100 reverse split, as it embarks on its recapitalization plan. The automaker has 610 million shares outstanding, but expects to have a whopping 62 billion shares after it prints new shares to pay off creditors, the government, and the auto workers union.
more in:
http://www.fool.com/investing/high-growth/2009/05/08/this-weeks-5-dumbest-stock-moves.aspx
Ruin-Nation
11 months ago
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