<VV> Like a Rock...Falling
rusecular at yahoo.com
Tue May 26 14:13:53 EDT 2009
My apologies...I failed to see the lack of corvair content
in the article ;-)
BTW, you're my favorite VV storm trooper :)
----- Original Message -----
From: "Dennis Pleau" <dpleau at wavecable.com>
To: "'Secular'" <rusecular at yahoo.com>; <virtualvairs at corvair.org>
Sent: Tuesday, May 26, 2009 1:52 PM
Subject: RE: <VV> Like a Rock...Falling
> Please discuss this on VV-talk.
> Dennis for VV-help
> -----Original Message-----
> From: virtualvairs-bounces at corvair.org
> [mailto:virtualvairs-bounces at corvair.org] On Behalf Of Secular
> Sent: Tuesday, May 26, 2009 9:23 AM
> To: virtualvairs at corvair.org
> Subject: <VV> Like a Rock...Falling
> "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..."
> Tony I.
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