On SeekingAlpha's "How is GM Still Alive?" post, blogger Felix Salmon points to the "Financial Highlights" section of their most recent 10-Q. $57B total shareholder's deficit. Quite the highlight indeed. Oh, and that's up from only $4B last year.
So in addition to losing their shareholders a shitload of money, what else does this company do? Well, they sell 12 mpg SUV's while gas and crude prices are at all time highs. They take on debt like they're pulling cash out of an ATM. They slash their workers' pension plans and benefits. Oh, and have Rick Wagoner as CEO. I would say short but the big guys already took care of them, there's nothing left but scrap metal and oil.
GM on Google Finance.
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