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Originally Posted by vath2001
GM forgot how to make money. They have been burning through cash for who knows how long. I would not buy GM stock.. you'll be throwing your money away. They do not have a long or short term plan to "make money".
Actually, the manufacturing is not their problem, its the management of the inventories, the styling options and the logistics. They offer too many cars & trucks, with too many options/colors. How many SUVs does GM offer?
Only recently are they starting to act like a company that's in trouble. Anyone's company that would lose money in a quarter would take immediate action... like Toyota is doing right now. GM has been losing money for who knows how many quarters?
Stay away from GM stock.
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GM's problems are varied and numerous. Certainly, the unions are up there but the obituary has been being written for many years. Too bad, as I like the fact that they build some cars here, provide jobs for many directly and indirectly.
Certainly, current board and CEO are as bad as one gets.
Still, they do have some nice product now and I think Chapter 11 reorg COULD work with new CEO, new union contract etc.
Of course, it would be nice if BO didn't totally kill the rest of the economy. Folks are not buying any kind of car right about now so recovery for a sick company is especially difficult.
In my dreams!
