Will GMAC Demand Notes be good?
I don't think us Autobloggers have it out for GM any
more than the next person on the street, but the tip box just keeps overflowing with hardluck news about the
embattled automaker. This one concerns GMAC Demand Notes, kind of a temporary high-yield savings account for GM
employees. There's a bit of concern going around that the cash placed in these Demand Notes might not be there when
employees come calling for it. Demand Notes currently give 4.88 percent interest, which is quite a bit better than a
simple savings account, but not dramatically better than other high-yield programs available to the public. Part
of the risk of having the extra couple points of interest is that if GM runs into trouble, the Notes could be nearly
worthless.
Reader Comments (Page 1 of 1)
Steve S 12:29AM (12/19/2005)
Public Service Announcement:
Notice to GM employees, if you havent already done so start looking for a new job. I hear Nissan may need some people in Tennessee.
Reply
Tankstelle 12:29AM (12/19/2005)
Maybe there are some buses left over from Hurricane Katrina to move everyone out of Detroit.
Reply
Rick T 12:29AM (12/19/2005)
It is unwise to invest in your employer. You already have tremendous exposure financially - your job.
Reply