Apple May Replace GM In 30 Company Dow Jones Industrial Average

“With Citi shares trading below $1, the first time since 1970 that a “penny stock” traded on the Dow Jones Industrial Average, it is widely expected that it will be removed from the index.

“The company was added to the Dow in 1997 when it was still known as Travelers, and the last company to be removed from the Dow was AIG last September (when its stock hovered above $1) and was replaced by Kraft Foods.

“It’s also expected that General Motors may be removed from the Dow. GM shares are trading slightly above $1 and there’s speculation it may be headed toward bankruptcy.

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sector - 3/10/2009 5:01:38 PM

-1 Boost

GM should go ahead and file chapter-11, it is inevitable... it's like that loose tooth you had as a kid, constant remittent pain is not worth the "one time" sharp pain that's needed to just pull it out, and be done with.

Remember bankruptcy doesn't mean GM owners will be left stranded with no warranty, no support etc.. existing dealership network will continue to operate as before, it just means "major restructuring" for GM to become more efficient, which is exactly what they need.