GM drops blow $32 (IPO price $33) today. It will go lower as dealers start to push back against the channel stuffing the company has been doing. In the "Bad GM" news, the taxpayer is on the hook for another $51MM as the old GM faces additional environmental liabilities stemming from the cleanup of old GM plants.
Government Motors and its union employees continue to gorge at the federal taxpayer feed trough.
http://www.marketwatch.com/story/old-gm-hit-with-another-cleanup-bill-2011-03-07?reflink=MW_news_stmp
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