Re: GM Getting Flogged -- What's Wrong With America?
From: Chris_Cdn (forex73_at_yahoo.ca)
Date: 03/16/05
- Next message: jay_stutz_at_yahoo.com: "Re: "Way down yonder in the Paw Paw patch,""
- Previous message: jrosenbluth_at_att.com: "Re: Soc Sec: How do private investment accounts solve the problem?"
- In reply to: cliff84373_at_yahoo.co.uk: "GM Getting Flogged -- What's Wrong With America?"
- Next in thread: QncyMI_at_netscape.net: "Re: GM Getting Flogged -- What's Wrong With America?"
- Reply: QncyMI_at_netscape.net: "Re: GM Getting Flogged -- What's Wrong With America?"
- Messages sorted by: [ date ] [ thread ]
Date: Wed, 16 Mar 2005 23:45:21 GMT
<cliff84373@yahoo.co.uk> wrote in message
news:1111000637.656802.174850@o13g2000cwo.googlegroups.com...
> I remember when I was a kid there was a cartoon chararacter in Li'l
> Abner named "General Bullmoose". He used to be fond of saying things
> like, "What's good for General Bullmoose is good for the USA". General
> Bullmoose, of course, was a fictitious name for General Motors. In
> those days GM was the largest corporation in the U.S. Now our largest
> corporation is Exxon Mobil, a corporation whos future is based on a
> non-renewable resource.
>
> GM is down 4.43 or 13% in todays trading after stunning the market by
> slashing first-quarter earnings estimates to a loss of $1.50 a share
> and cutting its 2005 earnings outlook by more than one half. GM's
> profit fell 37% in the fourth quarter. Their bonds are evidently
> selling at or near junk interest rates. The rest of the stock market,
> by the way, seems to be stalled probably due to inflation worries.
>
> In the meantime the Commerce Department recently reported that the U.S.
> deficit in the broadest measure of international trade soared to a
> record $665.9 billion last year, 25.5 percent above the previous record
> set in 2003. Obviously, the world isn't exactly clamouring to buy our
> stuff even with the low value of the dollar.
>
> So, what's wrong with GM? Obviously they have a problem with high labor
> prices. They also have a problem with health care costs. As I recall,
> health care for the retirees actually costs GM more than the steel that
> goes into their automobiles.
>
> What else is wrong with GM? For that matter, what's wrong with America?
>
>
>
> http://biz.yahoo.com/ap/050316/gm_outlook_9.html
> http://biz.yahoo.com/ap/050316/wall_street_16.html
>
http://business.updates.com/clickthru.aspx?typeid=33&siteid=2&orgid=12091&st
oryid=436902
>
Maybe if GM built a car worth buying, they could correct this trend.
How can the even hope to compete with Japanese and European car makers when
'TPI" passes for advanced technology on a GM car.
- Next message: jay_stutz_at_yahoo.com: "Re: "Way down yonder in the Paw Paw patch,""
- Previous message: jrosenbluth_at_att.com: "Re: Soc Sec: How do private investment accounts solve the problem?"
- In reply to: cliff84373_at_yahoo.co.uk: "GM Getting Flogged -- What's Wrong With America?"
- Next in thread: QncyMI_at_netscape.net: "Re: GM Getting Flogged -- What's Wrong With America?"
- Reply: QncyMI_at_netscape.net: "Re: GM Getting Flogged -- What's Wrong With America?"
- Messages sorted by: [ date ] [ thread ]
Relevant Pages
|
