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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (459080)2/24/2009 3:30:15 PM
From: tejek  Read Replies (1) of 1573810
 
Chronically means every year

No it doesn't.

Yes it does:

1 a: marked by long duration or frequent recurrence : not acute <chronic indigestion> <chronic experiments> b: suffering from a chronic disease <the special needs of chronic patients>
2 a: always present or encountered ; especially : constantly vexing, weakening, or

GM has gotten into financial trouble the last two-three years.

Its relative lack of competitiveness and profitability goes back longer than that. It used to be dominant, it gradually lost more and more market share, and cut its margins to try to retain what it could. If its going to survive (at least survive as anything other than a state supported entity) it needs to fundamentally restructure itself, including shedding itself of many of the costs and restrictions imposed on it by the unions.

There is no question that GM has been mismanaged. That's not the issue. The issue is whether we let it go out of existence. The answer is a resounding NO! Restructure: Yes! Die: No!

and GM has considerable value

No it doesn't. Its market cap is about a billion and a quarter while its debt is over $45bil. Its a value destroyer taking in hundreds of billions of investment without profitable return (and that's before the bailout money it received).

It has value beyond market cap. It employs many thousands. It pays taxes in Midwest cities and towns that desperately need the money. It buys from suppliers. Market cap is an accounting term........not a true measure of value.
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