Today is not a good day to be a GM stock holder, dealer or employee. The last quarter for GM was far more grim that even the most pessimistic of Wall Street's warlocks predicted. They lost nearly FIVE TIMES the amount of projected losses per share...gulp. Get ready for HUGE cuts by GM, prior to this announcement they were already getting blasted for not cutting deep enough. With quarterly results like this there's no way they can't start hacking off parts of the business.
They just don't have anywhere near the money necessary to claw out of this hole. Of course it's hard to feel too bad for them when you look at some of the company's missteps over the years.
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