Thusnelda — 17 years ago(November 11, 2008 02:28 AM)

"GM Plunges as Deutsche Says It May Become Worthless ()
General Motors Corp. plummeted to its lowest level in 59 years after a Deutsche Bank AG analyst downgraded the shares, saying they may be worthless in a year.
``Even if GM succeeds in averting a bankruptcy, we believe that the company's future path is likely to be bankruptcy- like,''
Deutsche Bank's Rod Lache wrote today in a note. The New York analyst
recommended selling the shares and cut his 12-month price target to zero
. He previously advised holding the stock.
The decline shows mounting pessimism that a turnaround will succeed at the largest U.S. automaker amid the credit crisis and the worst sales market in at least 15 years."