April Fool

By | 2014-09-04T17:14:29+00:00 March 1st, 2009|Global Market Update|

GM's CFO says that if debt-holders take a bigger haircut they can have a viable balance sheet within the 60 days. Well color me skeptical. The problem for GM isn't debt, it's product. For years they've shed market share to higher-quality competitors. To subsidize bloated costs they pushed high-margin trucks and ramped up sales to rental fleets. But when gas prices tripled and everyone switched to hybrids, they were toast. No volume, no margin, and no more money. How to make them profitable? Do [...]