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Obama - "new" GM is "full of promise." Is it?
President Barack Obama himself claimed recently GM's restructuring plan is "full of promise." Is it?
"Old" GM may take several years to clear bankruptcy. And, Hummer, at least, among the detritus of "old" GM, has yet to sell. If Beijing's ixnay on its sale to a Chinese maker becomes permanent, will anybody step up next?
The government equity stake in GM, if translated into an estimate of company value as measured by stock price, may have grossly overvalued the company.
And, the government's estimate for "new" GM's recovery time? Well, that, like other things, was probably based on the same talks with Rosie Scenario that underestimated the depth of the recession.
Read here for a complete roundup of why the "new," or "remnant," GM, may not be so full of promise. And, why we will probably be talking about this for a few years.
"Old" GM may take several years to clear bankruptcy. And, Hummer, at least, among the detritus of "old" GM, has yet to sell. If Beijing's ixnay on its sale to a Chinese maker becomes permanent, will anybody step up next?
The government equity stake in GM, if translated into an estimate of company value as measured by stock price, may have grossly overvalued the company.
And, the government's estimate for "new" GM's recovery time? Well, that, like other things, was probably based on the same talks with Rosie Scenario that underestimated the depth of the recession.
Read here for a complete roundup of why the "new," or "remnant," GM, may not be so full of promise. And, why we will probably be talking about this for a few years.
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