The market as a whole is going to be in for a rough ride. With oil so high, it's directly draining profits through higher energy costs and increased prices for everything else -- and indirectly doing the same by taking up so much of consumer income. Q1 and Q2 results aren't going to be pretty -- and now that Greenspan is beating the inflation drum -- interest rates will go up and make things even worse.
As for GM, its profit center for the better part of the last 10 years, trucks and SUVs based on heavy truck frames -- is getting slaughtered by high oil prices. That and the company just can't seem to execute anything right. The GTO, great car as it is, is still painted as a flop. They've got a YEAR supply of SSRs. The G6, LaCrosse and pretty much every other new car they're released hasn't come close to hitting their marks. And those minivans with the Jimmy Durante front ends. What were they thinking?!?!
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