S&P: Sell your GM shares

Standard & Poor’s today reiterated its recommendation to sell shares of General Motors Corp. “Based on further deterioration we see in automotive demand, we are cutting our '09 sales forecast for GM and more than doubling our projected loss per share to $23.17 from $10.12," S&P auto analyst Efraim Levy wrote in a report. “We expect sharply lower production will crush operating margins, especially in first half." In addition, Levy said, S&P expects any immediate government funding to be followed by further requests.