(Community Matters) The answer isn’t that difficult. It’s because most agree that auto manufacturers can’t survive given their current cost structure. This question existed even prior to the current economic crisis.
I say this with a heavy heart for the women & men employed by the manufacturers, their suppliers and all the businesses and communities financed by their economic stream.
As to management, on June 24 I wrote:
On Feb 23 I sold my General Motors stock at $24/share citing Vice Chairman Bob Lutz’s comment that global warming is “a total crock of shit” as a sign that the company was managed by idiots. Today GM closed at $13/share. It’s dropped nearly 50% ytd. So glad he’s a vocal idiot.
President Obama is more optimistic than I am about the ultimate survivorship of all three manufacturers even post-bankruptcy and with federal bailouts. I sincerely hope he and his advisors are correct.











