Wednesday, August 22, 2012

Another Day,

More Swiftee Roadkill

Why Mitch Berg is afraid to go on Minnpost.


Please do your research, Mr. Swift

For you are the one who has stepped in it - again.

"Chicken Little's Second GM Bankruptcy: The Gold Medal For Silly Op-Ed Pieces"

"Forbes contributor Louis Woodhill must deserve some sort of special recognition for his thinly-argued op-ed contribution forecasting an early second demise of GM."

"In short, the strategy is to make money, rather than buy market share: GM is now doing exactly what critics, for decades, said it should be doing: making money in the car business. And that business is being well led: the compact Chevrolet “Cruze”, at last check, was selling roughly one million units globally and in the running for the world’s best selling compact title. The small Chevrolet “Sonic” leads its segment, and the new Cadillac ATS has been widely praised as being at least on a par with the best of the teutonic offerings."

"To suggest that a cash-rich, profitable company with these characteristics is about to go under is, to me, “fatuous twaddle”. Mr. Woodhill should have done better."
As should Mr. Swift...

Forbes Detroit bureau chief and auto writer Joann Muller chimed in Thursday with her own post, calling Woodhill "uninformed."

But here are the facts: GM had $152 billion in total assets at the end of the second quarter, compared with $110.4 billion in liabilities.
The company's stock is down about one-third from its November 2010 initial public offering price of $33, but it's been rebounding lately. Shares closed at $22.01 on Friday, up 3.2% for the day. It has risen 12% since Aug. 1.

Most analysts, in fact, have argued that GM stock is undervalued.

"Ford and GM may have bottomed and are poised for a rally; GM remains our top pick, but bullish on Ford as well," Barclays analysts wrote in a research note Friday.

Your smokescreen is not going to work, Mr. Swift.

Your latest link is from 2010.
Your original link - as I pointed out - was debunked, even by Forbes writers and Forbes is the place where it first appeared.

Nice try.
And by the way, check the stock price. Which is included in the material above. Unfortunately, Mr. Swift, most of our readers are intelligent enough to figure out what is going on here. MinnPost is not twitter.

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