With the Detroit auto industry on the brink of extinction in 2008, the city's football team couldn't be counted on to give residents something to get excited about.Instead, they gave the city another dubious record to go along with the auto bailout: On Sunday, the Detroit Lions lost to the Green Bay Packers to become the first team in history to go lose 16 games and win zero in an NFL season. The 75th season in the team's history goes down as arguably the worst campaign in the history of professional sports.
Perhaps Congress could get together and authorize $50 million in subsidies to help the Lions build a winning team next year. In case you missed it on Dec. 26th, General Motors (NYSE: GM) shares rose 13% to $3.66 on news that GMAC would be able to tap some bailout funds. Shares of Ford Motor Co. (NYSE: F) closed at $2.29 on Dec. 26 after an 8% gain . Today in pre-market trading, Ford is up another 7% to $2.45. General Motors, however is down 7 cents in early trading to $3.59.
It's bad enough that the industry that provides the city's major source of employment is in sharp decline. They should at least have a football team that isn't an embarrassment.
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Reader Comments (Page 1 of 1)
12-29-2008 @ 11:45AM
Gary E. Sattler said...
This represents the one good thing that the Green Bay Packers accomplished this season.