General Motors (GM) is going to need a lot more shares of its stock. It plans to give some to the Treasury in exchange for debt, probably about $7 billion worth. It is trying to get creditors to turn in over $25 billion in debt for equity.
All of that activity will dilute current shareholders down to the point where they will probably own less than five of the company. On the back of an envelope, that would take the price per share of the car company down to about a dime.