After having its bonds downgraded again yesterday, GM shares are free falling today. According to S&P's credit analyst, "We're saying bankruptcy is more of a possibility than had seemed to be the case previously given the deterioration in their business prospects and their financial condition."
In my post on GM last week, I noted that its executives were not suffering from an incentive deficit. Instead, they are facing competitive and structural obstacles that may be insurmountable. The big question now on everyone's mind: will a new line of SUVs and trucks to be introduced in the spring save GM?
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