It appears the gold rings worn by General Motors workers are no longer highly valued! BusinessDay.com has an article that discusses the “STEADY trickle of gold rings bearing the letters “GM” has found its way into the Main Street Pawn Shop in the heart of the scruffy carmaking city of Pontiac.”
They go on to say that, “GM veterans have been pawning once treasured company rewards in distress or disgust at the state of the biggest American car manufacturer, which is expected to declare itself bankrupt tomorrow.”
“They have such a bad taste in their mouths that they don’t want them,” says Shelby Berger, co-manager of the family-owned shop. Mr Berger says he has handled more than 25 rings since Detroit’s motor industry went into a tailspin.
In a practice long since abandoned, GM awarded the ornaments for sales excellence, loyal service or for graduation from the company’s engineering academy. They now fetch more than $US200 ($A250) each. Mr Berger’s pawn shop is one of the only prospering businesses in Pontiac, a city of 65,000…
Read the Article in full Here: BusinessDay.com