If you're a GM shareholder right now you've got to be pretty happy with "Slick" Rick Wagoner. The man with the strategic plan for recovery at the worlds biggest automaker managed to increase stock price by 67% and hit a22-year-old record for the 10 consecutive days the stock price has been up. Not too shabby considering the $3.2 billion loss this quarter, although much of that's in one-time charges associated with the turnaround plan. Now if you're a GM or Delphi employee now out of a job, it's probably not the most important news you've heard recently, but hey...someone's gotta suffer for the shareholders, right?
GM stock on record streak [Freep]
Related:
Breaking! GM Makes Wall Street Its Bitch: Announces 2nd Quarter Earnings — $3.2 Billion Net Loss, $1.2 Billion Adjusted Net Income, Record Revenues [internal]