DETROIT, Michigan - May 11, 2009 - Six General Motors Corp. executives have sold more than 200,000 shares of stock as the company moves toward issuing new equity to give large stakes to the U.S. government and a United Auto Workers retiree health care trust fund.

Four group vice presidents and two vice chairmen sold the stock Friday and Monday at prices ranging from $1.45 to $1.61 per share.

Spokeswoman Julie Gibson says the sales don't show a lack of faith in the company. She says GM has disclosed publicly that shareholders run the risk of significant dilution or possibly losing their investments in a potential bankruptcy filing.

GM plans to issue 62 billion new shares and then do a 100 for 1 reverse stock split. The new shares must be issued because the government and UAW trust are being offered equity to erase billions in debt.

Ed. Note: How can selling 200,000 shares of stock notshow a lack of faith in the company? Why should the bankruptcy court allow General Motors to file for Chapter 11, since billions of taxpayer dollars have been stolen from the American people and given to this poorly run company? When is enough, enough? Revolution Now! Independence Forever!