Investors eye GM default risk

The AP reports:

An increasing number of investors are betting that General Motors Corp., the world's largest automaker, may be forced to seek bankruptcy protection within the next six to 12 months.

The American company is struggling to overcome slumping sales and the high cost of health-care benefits for workers and retirees.

"The markets are telling you that more traders are starting to see a greater risk that a default scenario could happen sooner in time than later," said John Tierney, a credit strategist at Deutsche Bank Securities in New York. "You cannot deny there is a pattern here."

A 14 year low was made today.We've got to brag when we said a couple of months ago the low wasn't in on GM.