Same Old Excuses from GM
Rolling Iron here.
Lightweight import snippet.
It's never GM's (NYSE: GM) fault. Wagoner blamed those unfair Japanese. Now the problems at GM come from the collapse of the housing bubble? That's what Vice Chairman Bob Lutz told folks in Louisville, Ky. How's this for retch-inducing corporate-speak?
"A lot of people are finding themselves in a position of reduced affordability and that has had an impact, not just on us, but across the industry."
Translation: People don't have fake money to spend, so they're not spending so much fake money....