Crumbling Pillars of American and Global Business
Iconic pillars of current empire of the world. GE, GM and Citi. All these three are benchmark indices for Dow Jones and now City is not far away from being disqualified from trading. How pathetic they look amidst the fear of devastation and ruins! Citi share is available for cost of coke @US$ 1.02, GM share for US$1.86 little below the cost of gallon of petrol and GE share @ US$ 6.66 less than compact fluorescent floodlight bulb that it produces. They were dream companies not just to work for but also get associated either as channel partners or customers or even as competitors. Would they fail? I doubt because they represent the symbol of modern America . I am tempted to put all my life time savings in buying the stocks of these three. But I also thought the same for Rank Xerox, Lehmann Brothers only to see my hunch evaporate in thin air. Washing Post article discusses two factors that catapulted these three to dizzying height of success and now the very factors that are turning...