GM posts $15.5 billion 2nd-quarter loss or 27.33 per share, Incredible! This was a widows and orphans company, now this company is about bankrupt
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15 years ago
My My My 15.5 billion loss
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15 years ago
Why did they have such big losses, though?
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15 years ago
If you fail to plan plan to fail ...
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15 years ago
Wrong product mix? Legacy costs? Decades of unreliable products? And strong headwind (gas and material prices) during their current turnaround?
I do think GM has great engineering if they just let the ideas out from the labs into their products at a competitive price. Did you check out the design of the audio and climate controls in many GM cars? It should be apparent that the designers never used iPods or iPhones.
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15 years ago
What's GM's cash flow? Because if it's anything close to their losses, then GM could burn through its cash reserve in less than two years and then have to declare bankruptcy.
How can auto makers with higher debt and labor costs and factories that are less efficient and less flexible be expected to compete against companies like Toyota and Honda in the long term, especially when they invest less on new cars and factories?