The Angry Engineer blogs about the high yields of Ford and GM stocks and bonds. 8% is tasty, but these are high-risk investments.
If you do invest in GM or F, remember that in the case of a bankrupcy, the bondholders are payed before the stockholders.
If you are a Ford or GM employee, make sure you have less than 10% of your 401(k) invested in company stock. Otherwise, you could be Enron'd.
(I own stock, and paper, at the moment. Kinda like being in Vegas... without the free booze.)