Jerry Flint writes in his Forbes Backstreet Driver column that GM’s problems are worse than they appear, and they appear to be pretty darn bad. Mr. Flint focuses on GM’s tactical decisions, including a suggestion that the Pontiac and Buick brands might be phased out if sales do not improve. Mr. Flint sums up the news coming out of GM’s offices these days in the following manner:
Every day there seems to be more bad news from General Motors. It’s like a parody of BBC news in the early days of World War II.
“And now, news of fresh disaster.”
Meanwhile, the Washington Post’s Steve Pearlstein chimes in with this article in which he observes that all of the Big Three are in big trouble:
[T]the Big Three today are in roughly the same pickle as the integrated steel mills back in the early 1980s, or the full-service airlines around 1990: Their choice . . . is either to make radical changes in their business model and cost structures or suffer a long, slow death.
Hat tip to Craig Newmark for the links to these articles.