Portfolio Killer #8: Ford

Despite its recent successes at negotiating new contracts and its refusal, so far, to accept government funds, when General Motors (NYSE: GM) goes into Chapter 11, Ford (NYSE: F) will have to do the same to remain competitive.

Given the ferocity of this downturn, if it didn't accept government handouts, it would probably end up in some form of forced re-organization anyway.

Real shareholder value: zero

Michael Shulman is a contributor to OptionsZone.com.

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Last updated: February 13, 2012: 12:01 AM

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