GM, Citigroup Removed from Dow Jones

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In lieu of its bankruptcy (the third largest in American history), GM, along with Citigroup, has been jettisoned from the Dow Jones. Cisco Systems and Travelers Insurance will replace the two companies. From Bloomberg:

General Motors Corp. and Citigroup Inc., crippled by the first global recession since World War II, were removed from the Dow Jones Industrial Average and replaced by Cisco Systems Inc. and Travelers Cos.

GM, which filed for bankruptcy protection today, and Citigroup, the recipient of $45 billion in taxpayer aid, became the first companies since American International Group Inc. in September to leave the 30-stock average. Their shares have lost more than 90 percent since the start of 2007.

By replacing GM with Cisco, Dow Jones & Co. has removed automakers from the best-known benchmark for U.S. stocks, saying in an e-mailed statement that computers are as central to the economy as cars were in the previous century. Citigroup, until last year the world’s biggest financial firm by assets, is being replaced by a company it jettisoned in 2002 and that was once run by its former chairman, Sanford “Sandy” Weill.

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  1. Daniel Cabrera's Gravatar Comment by Daniel Cabrera on June 1st, 2009 at 10:11 am

    ‘THE GM FACTOR’ – ANOTHER CHAPTER ON THE OBAMA GANG AGENDA TO DESTROY OUR GREAT COUNTRY
    To put it short,..the bankruptcy move should be done back in time (around past NOV or so).At that point the re-structuration could be end with STOCK-HOLDERS AS TO BE INCHARGE,..and so, all the CORPORATE POWER would be in the private sector (entreprenurial -style) which is the basic platform of our capitalist economy.

    But his was not going to work for the OBAMA GANG ADMINISTRATION,…for they want MORE POWER GRASP ! And so the “move” is now, when as result of money from governement they will CONTROL /OWN this corporation ….STEALING THE INDIVIDUALITY OF THE AMERICAN ENTREPENURIAL SPIRIT WITH OUR VERY OWN TAX MONEY ! And that is another chapter on CHEATING !,….but Gaithner is there , right ?…so it is quite understandable and expected.

    Here is a very simple thought;

    Smaller car = lighter car = weaker built = less safety…but this is totally IRRELEVANT for the FUEL CONSUMTION IS LESS !

    In addition we will be “good neighbours” for we will continue buying oil from the over-loaded by terrorists countries ,…and so we contribute to their finances and they can aford to continue kiling among themselves and kiling and destrying probably here too in our very grounds.

    But most importantnly we are “friendly wih the enviroment”….until IRAN and others COCOZOIDS and WACKADOOS out there start poluting it with radiation of atomic weapons.And on that, THE OBAMA GANG CORRUPTED, ANTI-AMERICAN, TERRORISTS FRIENDLY ORIENTED ADMINISTRATION has a plan of UNILATERAL DISARMAMENT and we don’t have to participate in the nuclear madness.

    Although we can be wiped-out and erased from the planet ,…but that is only a small detail, right ?

    good day everyone,
    Daniel Cabrera
    Merrillville, Indiana

  2. jjs572003's Gravatar Comment by jjs572003 on June 1st, 2009 at 9:49 pm

    I think Dan you need to get a grip.
    Here’s a good article to get you to realize what we view as “public” multi-nationals are really quasi govt regulated anyway which dispels your capitalist economy thoughts you speak of: http://www.salon.com/opinion/feature/2009/06/02/corporations/index.html
    Secondly.. why does smaller car eventually = less safety? From my recollection, the prius and even smart car have been doing allright PLUS if we get the gas guzzlers removed from the road there will be light cars hitting lighter cars thus entirely negating your issue. If you want to complain of safety then please write to ALL car manufacturers because autos kill more people then most anything.

    And what is terrorist friendly about obama’s stances? other then willing to engage in dialogue with nations (which is the right thing to do based on any experts advice) you have no footing. He effectively dealt with the pirate hostage situation, has been working to create a palestinean state, and of course our pain in the asses in N korea are just being good at what they are.. pain in the asses.

    Lastly, we won’t be wiped from the face of the planet because of nuclear holocaust but more likely because of disease or climate change.
    Gotta stop buying into the soundbites the right are selling you Dan and begin to think autonomously for yourself…
    Until then.. good day to you.
    JS

  3. Cool B's Gravatar Comment by Cool B on June 2nd, 2009 at 10:30 am

    GM days are over … you do not think so?? but Citi I think is still a very good bank to deal with! i have bookmarked this news article at http://www.webyam.com/snippets/citigroup.html

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