Brad, please don`t quit your day job to study publically traded Company`s. President Obama had nothing to do with the bankruptcy of General Motors. Decades of mis-management led to unprofitable operations and a leveraged balance sheet. Tack on a 40%+ drop in sales, and you have a recipe for the wipe out. But make no mistake, long before the decision on Chapter-11 was made, GM, and the rest of the US auto industry was in trouble, and for more than just their employment packages.
Second, there is no such thing as an untouchable publically traded Company. There is a long list of corporate giants that were acquired or fell by the wayside over the years. Indeed, based on its market cap, GM was hardly special. One thing to think about, over a year ago, GM`s market cap was approximately $2.0 billion. A recent equity sale by Facebook places a rough value of $10 billion on the Company. |
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