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Stock Picks-Is GM Chairman Losing It?

Don't you just love it? General Motorsto price your product at a number that
can't make a quality car to save itsallows you to take a profit out of the
life, which is what it's trying to do,sale. That's how you lose money, and you
and it wants Nissan to give it billionscan't make it up on volume.
of dollars to show respect for a failedYou also have the issue of your
company. Over the last couple of years,competition's pricing. The other guys
you have heard of failed nation states,are giving their customers perceived
many of them in Africa. Countries thatvalue and real value. The value is so
can't feed themselves, and have justgreat, that it is disallowing you a
about as much wealth as is necessary toprofit in the vehicles that you are
put an embassy in NY, so their diplomatsputting on the market. It's that simple.
can dine at the United Nations, and parkBut wait, there's more!!
overnight with diplomatic plates.Toyota, your main rival for world
Now we have failed corporate states likesupremacy just came out with a new Lexus
General Motors who can't get out ofLS 460 with built in features that GM
their own way, and probably have noisn't even thinking about. It's not even
justification for remaining in businesson the drawing boards at GM. THE LEXUS
other than the fact that they've beenCAR PARKS ITSELF. It's got sonar
around for something approaching adistance finding devices that link up to
century. If you really think about it,its navigation system. This thing can
other than the employees who wouldpull into a parallel parking position
anyone miss General Motors if they wentwith the driver basically watching the
out of business tomorrow, maybe evencar park itself.
today. The remaining players wouldMercedes will envy the paint job at
immediately pick up their market share,twice the price, and a first ever
and we wouldn't have to watch the slow8-speed transmission. How does a car
market attrition that is taking thatwith 380 horsepower get 19 miles to the
share down anyway.gallon anyway? With a crash sensing
There will come a time if they remain insystem that prepares the brakes and
business, that only aliens coming toairbags for the coming impact, this
visit our planet will buy General MotorsLexus may give new meaning to the word
vehicles. The news recently issafety. What's going on here? For
ludicrous. Carlos Ghosn runs$70,000, Lexus will give you a car that
Nissan-Renault. This man has done aBMW, and Mercedes can't even dream about
world-class turnaround over the lastmaking for the price.
several years, making billions ofI have talked with representatives of
dollars for a company that very fewthe Japanese automobile companies. They
thought could be turned around.think GM is on the ropes, and who can
Rick Wagoner is the typical corporateargue. The old giant is pumping out iron
bureaucrat that spent decades at GMthat just doesn't do it anymore. The
while its market share slid down theonly employees happy at the company are
tubes. The two of them have been talkinghebephrenics on the assembly line who
about some sort of consortium at theare taking too many pain killers.
behest of GM's major shareholder KirkThere's also Chairman Rick Wagoner who
Kerkorian, who wants GM turned aroundappears to be constipated in every
tonight, today, yesterday. Wagoner hasinterview he gives, and wants a
now decided that Nissan should pay GMfinancial tribute from Nissan to boot.
billions of dollars for GM's perceivedThe Future of GM
greater value.General Motors will continue to exist.
What value? Hey dude, you just lost $10If the consumer bought only on the basis
billion last year. You've bought outof quality, and bang for the buck, GM
thirty five thousand employees that youwould have filed for bankruptcy years
can't find work for. You're a textbookago. The consumer buys for other reasons
case study in how to lose money bythough, aside from quality. Some have
selling inferior products, and younever driven a Japanese car, and
believe you bring greater value to awouldn't consider it. Once you drive
partnership with Nissan, than NissanJapanese, buying American cars becomes
brings to you. HELLO, ANYBODY HOME?unthinkable. Some buyers live in
One of the first lessons anybody learnssections of the country where there is
if they are active in the stock marketpeer group pressure to buy American,
is, you have to deal with reality, notsuch as the Midwest.
your perceived reality, but what'sPeople on the East coast, and West coast
really taking place. GM has yet to do ahowever have basically shunned GM's
full, truthful self-assessment andvehicles. The Big 3 automaker will never
figure out where they are. What are yourecapture anything in those two markets
doing wrong? You can't be doing thingsagain. I can't imagine how they turn
right, and lose $10 billion in a year.around corporate morale. With seventeen
You've got sales all right, but yourlayers of management compared to
customers are so disenchanted with yourToyota's five, I don't know how anyone
product that they are not allowing youis proud to say, "I work for GM".



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