Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
RE: GM: doesn't add up
The problem is two fold. #1 is pension liabilities are enormous. #2 is they made shitty cars for a long time and blew their reputation. "Good will" equity might seem like an imaginary asset, but in GM's case the loss of it is something they really never got over even when they began building better cars.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address