At this point, the $25 billion bailout package they're trying to get will only delay the inevitable. Rick Wagoner has never issued a turnaround plan to help get GM back in the black, much less regain any lost market share, and the board of directors is strangely complicit in his poor leadership.
Since Wagoner has taken the reins over 8 years ago, GM's stock has fallen over 80-percent. Their global market share has dropped in half. They've lost their position as sales leader in the U.S. and worldwide to Toyota, and the board of directors still think he can do the job, which is very clear that he cannot.
Their vehicle portfolio is a few good cars (Malibu, CTS, G8) scattered across a sea of mediocre offerings that customers no longer have any interest in looking at since everybody else has raised the bar. Drastic actions are required, and these actions still may not be enough.
-----Added 7/11/2008 at 02 : 15 : 41-----
Quote:
Originally Posted by shakran
No. They'll get a bailout, just like Chrysler did, twice.
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To Chrysler's credit, they repaid those bailout loans. I don't think GM's in such a healthy position to do so.