From the New York Times:
Maybe General Motors should throw in a fleet of Cadillacs.
The automaker is dumping its corporate jets into what some participants say is the worst market they have ever seen.
Just seven months ago, hundreds of mega-millionaires, including Ralph Lauren and David Geffen, were elbowing one another in the lineup to buy a $60 million Gulfstream G650, which was not expected to hit runways until 2012.
It did not matter that $500,000 had to be wired to Gulfstream's account at a Midwest branch of JPMorgan Chase at exactly 12:01 a.m. April 15, or that those who secured a place in line could not sell their rights if they changed their minds, according to one bidder.
Business & Technology | Corporate jets are definitely out | Seattle Times Newspaper