GM Plummets After Analyst Cuts Price Target to Zero

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Solitary said:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXdq61f3HmOw&refer=home


Even if they receive help from the government, GM is doomed unless they can restructure to become viable in a global market.

GM has been unable to adapt for years. And the union has had them by the balls. Both of those will spell the end of GM.
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They need to go alternative fuel vehicles and fast, but it is probably too costly to make the upgrades. How sad, the truly American industry is dying.
 
froggie said:
They need to go alternative fuel vehicles and fast, but it is probably too costly to make the upgrades. How sad, the truly American industry is dying.
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They waited until their backs were against the wall to make the changes.

Its much like the invasion of japanese cars in the 70s. GM waited until they had tough competition to try to transition. As a result they were years behind Toyota and Datsun. (remember when it was Datsun?)
 
It isn't the unions. The tiny amount that the union adds to the payroll of the people who probably get an insignificant amount of the total company payroll is insignificant to their total financial situation.

No, this is the managements fault, and its amazing the Americans always try to blame the workers.
 
Also the 6th or 7th largest home mortgage company which GM owns 49% or so of is in trouble.

I posted on this last week.
 
Watermark said:
It isn't the unions. The tiny amount that the union adds to the payroll of the people who probably get an insignificant amount of the total company payroll is insignificant to their total financial situation.

No, this is the managements fault, and its amazing the Americans always try to blame the workers.
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WM, look at the TWO reasons I gave for why GM is in such trouble. One was unions and one was mgmt.

And the unions do have a big effect. The labor costs for the big 3 are substantially higher than their competition.
 
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