GM is on its way to receive bailout. If GM were going down while the rest of the market (the Dow) goes up, perhaps they would consider removing it. AIG was going down big, not only they didn't remove it, but they received a bailout. Maybe you get you enter the bailout-eligible club when entering the Dow?
I think that they are considering, just for fun, leaving it in there, and seeing if some short funds will bid negative values for it, ie, pay people to take it, at increasingly lower prices, just to help drive the overall value of the index lower. why not? it may be a remanifestion of the phrase, 'woth more dead than alive!' a true black hole...speaking of sunw...
They want to have an auto company in the portfolio and GM is the only company that can really be in there. Too much backlash from main street if they put one of the Japanese companies on there.