[Absolut Speed]

Last fall, GM announced a reduction in GTO production and had to offer large rebates on this brand new model to sell off inventory

In December, GM had a 301 day supply of SSR's on hand.

Then the XLR gets a production cut from 23 to 12 a day. There's a 200 day supply of them out there. Cadillac hoped to sell 6,000 annually, but through 18 months, sold just 4,744.

February, GM decides to cut $1500-$2000 off the sticker mid-year on Trailblazers/Envoys/Rainiers and currently has 0% for 60 months to get them selling again. TrailBlazer sales fell 46% compared with January 2004. Envoy sales were off 52% and Rainier 27% according to Autodata reports.

Then for March, the factory that produces the LaCrosse & Grand Prix is shutting down for a week.

Then the earnings forecast for 2005 drops 80%. Stocks drop to 8 year low.

I think this goes back to cutting the Camaro and Firebird out of the lineup.

[trackbird]

Some GM employees are suing GM now because GM's policy for 401K company matching was apparently to put it all in GM stock. In the past 3 years GM's stock has gone down about 40%. After some quick looking it looks like Toyota's stock has gone up about that much in the same time frame. (IMG:http://www.frrax.com/rrforum/style_emoticons/default/unsure.gif)

Of course "company match" means they are suing over "free money". I'm not saying I'd like my company to put it all in stock that becomes "worthless" (not that it's that bad, just making the extreme point), but if they gave me free money (and invested in any of the stock market), I guess I should expect that I could take a beating on it.