| StreetInsider.com - Insiders' Edge |  | Bill Ackman Says GM (GM) Should Go Bankrupt |  | Hedge fund manager Bill Ackman said the biggest U.S. automaker, General Motors (NYSE: GM) should file for bankruptcy rather than taking money from the government.
"It has been hamstrung for years because it has too much debt and it has contracts that are uneconomic,'' Ackman, manager of the Pershing Square Capital Management LP, said on the Charlie Rose show yesterday. "The way to solve that problem is not to lend more money. They should do prepackaged bankruptcy.''
General Motors is currently petitioning the U.S. government for aid after saying last week that it may not have enough cash to operate this year. GM's CEO Rick Wagoner has said bankruptcy "is not an option." CONTINUED>>>>> More Insiders' Blog: http://www.streetinsider.com/Insiders+Blog FREE RSS Feed: http://www.streetinsider.com/freefeed.php?cid=6 | | | 
| Insider Trade of the Day - Corning (GLW) Corning Inc. (NYSE: GLW) sees insider buying. CFO James B. Flaws disclosed he bought 100,000 shares on 11/06, Director Gordon Gund bought 100,000 shares on 10/06, and on Friday Director James Houghton disclosed he bought 100,000 shares from 11/06-11/06.
More Insider Trades ($): http://www.streetinsider.com/Insider+Trades | | 
| | Upgrade To Watch - United Rentals Gabelli upgrades United Rentals (NYSE: URI) from Hold to Buy on valuation. Gabelli analyst says, "We are maintaining our 2008 and 2009 EPS estimates of $2.60 and $2.30, in-line with URI's 2008E outlook of $2.55-2.65. URI continues to shut down unprofitable locations, which should translater ... MORE
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