Bailout Watch 44: Oh Ricky You're So Fine, You're So Fine You Blow My Mind
Not content with one cheerleading article telling the world that GM has what it takes to turn around the sinking ship, today’s Detroit Freep Press has another piece asserting that The General will Survive ‘n Thrive™. Mark Phelan’s handed his pom-poms to biz scribe Katie Merx, who pens a paean to the GM Lifer and CEO who’s wiped tens of billions off the automaker’s balance sheet, steered it straight into a sea of debt and presided over the corporate colossus as it’s shed more than ten points of U.S. market share. “He is a finance guy, but he knows he won’t get a healthy balance sheet without beautiful sheet metal.” Gag! “Wagoner is able to focus on select, long-range issues, said David Cole, chairman of the Center for Automotive Research, largely because he has put together a stable and strong senior management team — and trusted them to do their jobs.” Gack! “‘One of the things I’ve learned from Rick and Fritz is you’ve got to deal with reality,’ Chief Financial Officer Ray Young said referring to Wagoner and GM President Fritz Henderson.” Barf. But I’ll let Wagoner have the last word, as the punchline is clear enough. “Our burning desire is to keep going forward fast.”
Usta Bee: Heh heh... ;-)
I just threw up a little bit in my mouth......
Rick must have dyslexia he jumbled this statement up, "Our burning desire is to keep going forward fast.” I think he was really trying to say, "Our desire is the keep going forward, FAST, burning money, soon to be your money." If he was really able to focus on long range issues he wouldn't be saying they could never see the price of gas going up like it has. Just about everyone not living in Detroit has seen that one coming.
How could Rick know gas prices might go up? It wasn't like this had ever happened before.