This article is bunk and a clear propaganda effort.
GM is dying because its a big old company and big old companies die..and..because as a nation, the U.S. does not protect its companies/citizens from the effects of global free trade.
The stock price is a different story.
This article misses something important. Was there some massive cover-up with GM's financials? No. The debt due to pensions and such is not new information. If the stock buyers and analysts didn't adequately project a meaningful market price based on GM's published financials, who is to blame? Unions? No, the stock should be priced lower if thats whats on the books. Don't blame unions for bubble markets and the unfounded position that stock prices and company value should always grow.
Comments
This article is bunk and a clear propaganda effort. GM is dying because its a big old company and big old companies die..and..because as a nation, the U.S. does not protect its companies/citizens from the effects of global free trade.
The stock price is a different story. This article misses something important. Was there some massive cover-up with GM's financials? No. The debt due to pensions and such is not new information. If the stock buyers and analysts didn't adequately project a meaningful market price based on GM's published financials, who is to blame? Unions? No, the stock should be priced lower if thats whats on the books. Don't blame unions for bubble markets and the unfounded position that stock prices and company value should always grow.