GM's Market Value Is Only $7 Billion—Half That of Avon

ozymandius

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Thu Jun-26-08 07:25 PM
Original message

GM's Market Value Is Only $7 Billion—Half That of Avon

How the mighty have fallen.

At one time, General Motors was considered the pre-eminent US corporation, a giant among giants.

But now, on news that Goldman Sachs reduced the company's rating to "sell", GM's shares have plummeted to less than $12, the lowest level since 1955.

http://www.cnbc.com/id/25392542

The saying used to go, "What's good for General Motors is good for America." Not anymore, so it seems.

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Oregone

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Thu Jun-26-08 07:31 PM
Response to Original message

1. Sad. We need good paying factory jobs more than cosmetic sales reps.

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Nederland

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Thu Jun-26-08 07:38 PM
Response to Reply #1

6. Problem is

When you run a company with "good paying" jobs, it can't compete globally.

Americans need to change their idea of what "good paying" is.

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Oregone

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Thu Jun-26-08 07:51 PM
Response to Reply #6

9. Screw globally...thats what tariffs are for...

Without tariffs, the only jobs will be selling widgets we cannot compete to make, until everyone's money runs out from buying widgets from overseas.

Oh wait...that sounds like America. :)

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Nederland

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Fri Jun-27-08 09:25 AM
Response to Reply #9

12. What about imports?

Edited on Fri Jun-27-08 09:26 AM by Nederland

Nearly 15% of our economy is imports. Aren't you just screwing those people?

Americans need to wake up to the fact that our lifestule and current rates of comsumption are unsustainable. We must become poorer if we are to survive.

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underpants

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Thu Jun-26-08 07:35 PM
Response to Original message

2. Maybe those ultra talented execs can go door to door

or they can drive pink cars

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PeaceNikki

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Thu Jun-26-08 07:36 PM
Response to Reply #2

3. The pink cars are Mary Kay

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underpants

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Thu Jun-26-08 07:38 PM
Response to Reply #3

5. See! they need some of that Ford/Chevy marketing talent

:P

:bounce:

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PeaceNikki

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Thu Jun-26-08 07:46 PM
Response to Reply #5

8. Clearly! They were giving away lipstick red vibes for a while, too.

Pontiac Vibes, I mean:
http://www.autoblog.com/2004/07/16/mary-kays-pink-cadillac-incentive-becoming-less-popular-as/

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Selatius

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Thu Jun-26-08 07:36 PM
Response to Original message

4. The leadership at GM did this to themselves. Give them enough rope, and they hang themselves.

They're a bunch of morons who have destroyed their workers in the process.

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msongs

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Thu Jun-26-08 07:43 PM
Response to Original message

7. GM=gross mismanagement - all its top level ppl need to be fired for lack of vision IMO and of course

they HAD an electric car 5 yrs ago that could own the market today despite its flzws at the time.

Msongs

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Old and In the Way

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Thu Jun-26-08 07:52 PM
Response to Reply #7

10. Big Auto got screwed by Big Oil

Seriously, I have no doubts that they've been in cahoots for years. Why else would they avoid non-combustable engine technologies. I'll bet their forecasts counted on relatively cheap gas to keep building hi-profit SUV and trucks. Looks like Big Oil has pulled the market from underneath them. You are right, they should have been paying attention to a future where increasing demand and diminishing supply would cost them huge market share.

Of course, they are divesting into other markets....China has the demand and the money to buy their vehicles.

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gristy

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Thu Jun-26-08 08:21 PM
Response to Original message

11. It's lost more than 1/2 its value in less than two months

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