All news seems to be bad news for the American car industry. Ford (F) announces a new stock issue, and the market drops. General Motors (GM) executives dump their GM stocks, the market drops. Perhaps they would all do better to take a staycation.
Imagine you're a key exec of a venerable international corporation desperately trying to convince the government, press and public that you can weather the perfect economic storm with the help of government dough. What, then, do you expect the world to think when you unceremoniously dump all of your stock in the corporation? Ask General Motors, after it was revealed that six top executives divested themselves of their GM shares in the past few days.