Wall Street Investors keep telling GM Leadership they should have fewer brands, fancy designs and close more plants.
For example, one of General Motors' restructuring announcement's was met with "like putting lipstick on a pig", in the words of Shelly Lombard, an analyst at Gimme Credit.
Is anyone else sick & tired of hearing and reading what Wall Street likes and dislikes? Here is a person from "Gimme Credit" making a pig statement about GM. Wow, that statement is so original and bold it realy entices me to want to do business with a group called "Gimme Credit." WS analysts are nothing but short-term vultures that wait around until a company posts figures and then they swoop in to divide the stories. And, the business of setting projected quarterly earnings outlooks is a crock, I wish Steven and Stephen (Freakonomics) would do some research about WS analysts like they did on Real Estate Agents (Real Estate Agents).
I know GM is having problems, I have written about them ( GM to close more factories updated 6/8/05) in the past.
GM (Ford too) would stop reporting quarterly to the Wall Street Journal. Be Like Berkshire Hathaway (Warren Buffett) and tell them to take a hike when it comes to future guidance reports. In case you have not noticed Wall Street hates you anyway.
update 7/26/06
General Motors Corp. said Wednesday it lost $3.2 billion in the second quarter as it absorbed heavy charges for its massive restructuring program. But the world's largest automaker reported an adjusted profit without the charges that handily beat Wall Street estimates and its sales surged 12 percent. "If there was ever a time when GM needed to look good, this is it," said John Casesa of Casesa Strategic Advisers. - "But John, will you still love me tomorrow?"
"We were underwhelmed by General Motors' big announcement of future plant closings and job cuts," Shelly Lombard, a senior research analyst with Gimme Credit in New York, said in a note to clients on Wednesday.
qualityg says... is Gimme Credit located New York City really mean "Gimme Yo Money Punk?" Now she says GMs big announcement about their plans stink. Maybe they do, by what method do you personally use that gives you the right to make statements like this? It can't be because you work on Wall Street and what you and others on WS say is rock solid. Ms. Lombard, is it your degree from Columbia or your 17 years of working in the credit industry that allows you to make statements about GM and other companies?
I'm telling you folks, especially you UNION members, you best get your acts together and start forming new groups and leadership. How can you stand back and allow punks from Wall Street make statements on financial figures that no one knows if the numbers are correct? Financial Figures are result figures and anyone can stand back and shoot darts when the figures are posted. Making asinine statements like "I think they should close more plants," really means, hey I'm on Wall Street, I'm quoted in the paper, you slugs working in the plants are and should lose your jobs because my company "Gimme Credit" ran some formulas and says it is so. Ms. Lombard please come to Flint Michigan and work in the plant for a month. At least then I might consider some of what you say to be accurate. Perhaps you might even make a statement before you know the results!
Wow here is another financial analyst making an after the fact bold and predicting statement...
"While a step in the right direction, GM's turnround doesn't appear sufficiently aggressive to us," says Rod Lache at Deutsche Bank in a report. He adds that the revenue side of the equation was also a concern, with GM achieving the lowest average price per car sold in the industry thanks to its mostly lackluster line-up of models.
qualityg says ... Mr. Lache - What the heck does "Doesn't appear sufficiently aggressive to us,"mean? Please define "Sufficiently Aggressive?" Here is another sufficiently appropriate statement "You can kiss a Buick's Ass!"
Ms. Lombard was that pig statement a self-portrait?
related post about GM @ http://qualityg.blogspot.com/2006/07/quality-fools-gm-death-watch-part-vii.html
For some great reading about GM and Cars in general check out "The Truth about Cars" @
3 comments:
qualityg you have done it again! Where do you come up with this stuff?
SAM
SAM,
I believe Wall Street and their reactionary analysis and bogus predictions lead to many a company downfall.
Too many corporate Lemings follow their advice. Many of the so called WS experts are grads who never held a management position in a working company and they use financial formulas that do not consider the worker, variation or systems thinking.
Why? Because they can't measure it. They are predicting future quarterly outlooks with reactionary figures that are suspect at best(very dangerous in my humble opinion).
What do I base my facts on? Being in meeting for over 25 years with Financial Wizards who only see numbers going up and down and reacting without any knowledge from the worker or understanding varaition. And, why all the recent inquiries into accounting practices and new laws established (i.e, Sarbanes-Oxley).
I'm really into cars, "The Truth about Cars" is a great site, thanks for sharing.
I enjoy the GM Death Watch Series and your comments.
Tony
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