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The blog, Naked Capitalism, had a good article on Friday discussing some very peculiar patterns that have emerged regarding trading, in particular, odd run-ups at the end of the day.
Saturn, Hummer, Pontiac or Saab. Buh bye! This clearly will not be enough. They will have to get rid of Buick as well. They will also have to spin off Corvette. GMC on the consumer side may crash and burn too. But on the upside, Obama will sell of his share to China and India.
There was some bizarre movement in the /ES futures at close on Friday. Either it was a forced liquidation/margin call or someone was willing to lose a few million trying to goose the cash SPX for whatever reason.
. . . be getting rid of the Pontiac line entirely. Three of the best vehicles GM makes right now are Pontiacs. Saturns were always a joke and Hummer's are just plain stupid. Hopefully, some enterprising nationalists in Sweden will buy the Saab line and return it to its former glory, with a plug-in hybrid engine, of course.
There's something symbolic in that.
Without Buick, the new GM is basically just Chevrolet and Cadillac (not counting GMC trucks). This parallels Honda/Acura and Toyota/Lexus. But Buick is well-established as a sort of entry-level luxury brand, so I guess there is room for both it and Cadillac.
Buick is also GM's best-selling brand in China, so no doubt that was a factor in the the decision not to kill it along with Pontiac
