<VV> Like a Rock...Falling

[Secular]

  "GM stood atop the Fortune 500 nine years ago; it now stands on the 
  brink of bankruptcy court as sales decline and cash becomes scarce. 
  Moreover, GM bondholders are intensely unhappy with the terms they 
  were offered as part of a plan to avoid bankruptcy, so even though 
  the United Auto Workers struck a deal with management on Thursday, 
  bankruptcy still looms as the probable course.
   
  How did such a once great company become so desperate? Perhaps the 
  better question is, how did GM's well-paid management fritter away a 
  treasure chest of brand loyalty and corporate wealth? 

  There's not a single bad decision or one misguided executive that we can 
  point to and say, "but for that GM would still rein supreme." GM's is a 
  long-term management failure with a litany of losing moves over the 
  decades, from the Chevy Corvair to the acquisition of Hummer - 
  a rolling insult to the environment - that have collectively 
  destroyed GM's balance sheet and sent its customers wandering..."

  Source:

  http://tinyurl.com/falling-gm

  http://www.bizjournals.com/houston/stories/2009/05/18/daily62.html


  Tony I.