It's a scary time. I sort of cringe when I see that 10-move-in-a-day reaction, especially from the upside. I think this industry, from top to bottom, is in trouble. With the Big Three manufacturers in the state they're in, it certainly bleeds down to suppliers. The entire foundation is so weak now.
More Quotes from Kevin Tynan:
The quarter as a snapshot is certainly a move in the right direction. But that being said, it didn't convince me of anything.Kevin Tynan
The numbers are much worse than I thought they would be, especially given how Ford beat the estimates earlier this week.
Kevin Tynan
There is still a lot of work to do beyond the Ford agreement. The scale of restructuring in the industry is just enormous. It is going to take time, take some aggressive actions, and it is going to be expensive.
Kevin Tynan
Some analysts said that knowing earnings were dismal, GM had to take some sort of action. Things like today are great it's better than not being able to announce anything, ... But I certainly don't think it's anywhere near the scope or the magnitude of what this company needs.
Kevin Tynan
I think they kind of hit it at the right time with that sedan.
Kevin Tynan
But despite the pressure, I can't think of anyone who would be better than him to do this job. The issues facing the company are so long in the making. They are just rising on his watch, but they weren't created by him.
Kevin Tynan
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