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Sunday, June 07, 2009

Is Freddy Henderson Really The Right Guy To Run Gm

The government injected 50 billion dollars into Gm and went thru the tedious task of restructuring the company. And then picked third rate retread Freddy Henderson to run the comapny. Henderson before the giant collapse was in charge of marketing for Gm.
Many auto analyists have said the Chevy Malibu was the equal of Toyota's Camray. And yet the Camray left the Malibu behind in its dust when it came to sales. Freddy was its chief salesmen. It was his job to get people to buy the Malibu. He didnt do to good of a job. Is that why the government selected him to be Chairment of the new Gm? It dosent make any sense that they would pick someone like Freddy to run the company with his track record.
The Obama adiministration has done a lot of things right in saving the automobile industry but the most important thing is picking the right management team to run the compaines. And this is where they have completly fucked up. GET RID OF FREDDY HENDERSON NOW. This is a very weak move on the part of the Obama admisnistration.
THE DETROIT TIMES TRADING RECOMMINDATIONS: You should have been able to take a profit on shorting Ge on Friday. If you didnt get out on Friday as we reccommended definitly get out on Monday.