The bad news certainly isn't going to end for a while.
More Quotes from David Cole:
It's matter of very high urgency that they do this. They desperately need to contract the size of the company.David Cole
There was the oil issue, a lot of different things going on with policy, safety, regulatory influence, but it was still a very profitable period for G.M.. If Hollywood were picking someone to play that role, Tom Murphy would have been it.
David Cole
Every one of the Big Three faces a problem right now of about 2,000 to 2,500 per vehicle produced cost disadvantage. If that plays out over time, they're all dead. It's change or die. Everything is driven by a profitable business. If you can't be profitable, you can't be in business. That is, I think, recognition that everybody is aware of.
David Cole
I thought that was an appropriate phase. They have to change pretty substantially.
David Cole
What they're really looking at is the long-term implications of this. In the past, there was a decidedly short-term mentality, and basically what (GM) would say is we'll settle so we can meet our quarterly profit projections. That's different today. The financial community is concerned about the short-term returnbut what they're focused on is the long-term profitability.
David Cole
It's a big high-stakes craps game we're in and the outcome is very much unknown.
David Cole
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