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Dow index likely to dump GM

May 07, 2009|TIMES WIRE REPORTS

General Motors Corp., facing a bankruptcy or reorganization that would all but wipe out shareholders, will probably be removed from the Dow Jones industrial average after seven decades in the blue-chip gauge, the executive director of Dow Jones Indexes said.

Among the Dow's 30 stocks, the automaker's shares cost the least, representing 0.2% of the price-weighted measure.

"Definitely the trend is in the direction that would force us to remove it," said John Prestbo of Dow Jones Indexes.

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