The GM, Ford death watch - Oct. 9, 2008

The GM, Ford death watch - Oct. 9, 2008: "NEW YORK (Fortune) -- How bad is it going to get for automakers? Worse, much worse."

Say it ain't so. In a phone conversation with my dad this morning, he asked, "Have you seen what's happening with GM?" I clicked over to Marketwatch, and at the time we were talking, GM had lost 16% of its value in just the early morning trading.

At its peak in 2000, GM stock was trading at close to $95 a share. This time last year, it was trading around $45. Now it's worth little more than $5.

Watch for a potential merger or a brand spin-off with Hyundai, who is terrified of losing the lower end of the market to the Chinese manufacturers. Nostradamus has spoken.