GM Needs to Work Through Its Demons

Late Tuesday, I participated in an interesting discussion about General Motors (GM) among a few Real Money contributors, with the traders wondering what we value players thought of the stock. Shares are down 45% year to date and, so far, the much-heralded "initial public offering" just over a year ago hasn't turned out the way many believed it would. While I tend to stick to much smaller names, this is a much bigger fish on which I've had some strong opinions over the years.

In fact, in one of my earliest Real Money columns, back in 2008, I opined that bankruptcy was probably in the company's future. Given my grandfather's long career at a GM plant, these were tough words to write. We were a GM family. We owned nothing but Chevy vehicles until the late 1970s and early 1980s, when the quality became so horrendous that we went another route. To the company's credit, GM turned that issue around and starting building much better vehicles. But so did everyone else....460 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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