All of the following is opinion and speculation. I believe GM longs, who have sold their stock in the last seven weeks or so, have been had. As I explained in the post above, GM seemed to be stage managing the release of bad news. Some of that news had been known for a long time (retirement and medical obligations). In think GM must have had contact with this multi-billionaire auto investor who was beginning to accumulate a stake in the stock. If so, how does GM management treat the existing investor? Stage manage bad news so that existing GM shareholders dump the stock at discounted prices to their new pal. Kerkorian would then be able to finish accumulating his stake with the objective of eventually making today's announcement. GM short sellers, put buyers, bond traders, and others may have also been deceived by management. The next relevant thing to watch for is Kerkorian's age. I believe the average life span in this country is 74. Kerkorian turns 88 early next month.