Shares of General Motors (GM) tumbled to their lowest level in more than 70 years Friday, pulled down by a drop in the broader markets and continued speculation about the future of the struggling automaker.Tuesday: GM said it would need a total of $30 billion in federal aid in order to avoid filing for bankruptcy protection, up from a previous estimate of $18 billion and including $13.4 billion it has already received. It also said it would need to cut 47,000 jobs worldwide and close five more U.S. factories.
Analysts have said that regardless of whether the automaker receives additional government help or ultimately files for bankruptcy protection, its shares are close to worthless.
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