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Merrill Lynch analyst says GM bankruptcy filing is ‘not impossible’
http://www.msnbc.msn.com/id/25495186/
" Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company’s cash needs and speculation about a possible bankruptcy protection filing down the road." "June was a dismal month for the industry overall, which posted a 18.3 percent sales drop, according to Autodata Corp. Only Honda, whose lineup is tilted toward smaller and more fuel-efficient cars, managed to report a sales increase for June " |
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Merrill Lynch analyst says GM bankruptcy filing is ‘not impossible’
On Jul 2, 10:07*pm, kayak44 wrote:
http://www.msnbc.msn.com/id/25495186/ " Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company’s cash needs and speculation about a possible bankruptcy protection filing down the road." "June was a dismal month for the industry overall, which posted a 18.3 percent sales drop, according to Autodata Corp. Only Honda, whose lineup is tilted toward smaller and more fuel-efficient cars, managed to report a sales increase for June " small potatoes to a company that has the largest market share in USA- and was able to survive the Great Depression of the 1930's |
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Merrill Lynch analyst says GM bankruptcy filing is ‘not impossible’
On Thu, 3 Jul 2008 03:29:08 -0700 (PDT), trippin-2-8-track
wrote: "June was a dismal month for the industry overall, which posted a 18.3 percent sales drop, according to Autodata Corp. Only Honda, whose lineup is tilted toward smaller and more fuel-efficient cars, managed to report a sales increase for June " small potatoes to a company that has the largest market share in USA- and was able to survive the Great Depression of the 1930's snip Barely. GM didn't "survive" off of auto sales in the '30s. They were doing a whole lot of other things that made more profit than auto production. This time, though, with completely inept management and a stunningly useless product line from its core business, they are indeed headed for collapse. All the other subsidiaries and divisions which were non-auto related have been spun off to raise cash; there's nothing left to sell anymore. Plus, in EVERY case where GM does a "spinoff," the spun off division winds up making money AFTER GM's stupid management is cast off. Newest example: Electro-Motive Diesel, which is now ramping up production to do battle with GE on locomotive production at its La Grande, IL factory built by GM in 1936. While still under GM control, La Grange was a wasteland and all production was done in London, ON. A similar story can be told by Detroit Diesel-Alison, which GM almost mismanaged into a quagmire, onliy to be rescued by Roger Penske. Sadly, in the EMD case, the owners are off-shore. US corporate management has become so inept and so committed to failed Harvard Business School philosophies that they ruin everything they touch, just as has their political operatives in the Republican Party, which is itself poised to go the way of the Whigs after November. |
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