Thursday, March 3, 2011

News From General Motors

In the financial news recently, we have learned that GM's sales were up dramatically last quarter. This is being trumpeted as evidence that the new GM is heading in the right direction after the government takeover. GM is now "green", building environmentally correct cars, and creating thousands of "green" jobs now and into the future. It's all wonderful!!

There's only one problem with this story line: It's completely false. As you read further into the news about GM's latest results, you learn the truth, buried down there in the story. You see, those latest good results from GM were due to strong sales of Cadillacs and gas-guzzling Silverado trucks!!! Not the Chevy Volt!!

I predict that GM will go bankrupt again. The environmental extremists and government bureaucrats now running the company don't deal in reality. They will continue driving the company off of a cliff by forcing it to build little tinny "green" cars that are very expensive which no one will buy. Once the Cadillacs, Silverados, and their ilk are discontinued or emasculated, which will surely happen because the greenies in charge will insist on it, the company is toast.

Sell your stock.

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