It doesn't sound like the UAW is in the mood to be accommodating. So it looks like GM isn't going to get any more relief on the cost side until 2007. If they don't get it then, this is going to be an ugly situation.
More Quotes from Shelly Lombard:
This company has a long way to go. It is a marathon, not a sprint. To buy these bonds you have to be in it for the long haul. It is very possible they will trade down before they trade up.Shelly Lombard
The numbers were great ... they have great ratios, they have very affluent subscribers and their revenue per subscriber goes up every month. These guys are what every cable company wants to be when they grow up.
Shelly Lombard
If the situation is coming apart quicker than expected, you can blame it on liquidity and management's inability to communicate and tell a good story.
Shelly Lombard
So far they haven't been able to see a strong sense of urgency. It's a little here and a little there. It's not the sweeping kind of change that this company needs.
Shelly Lombard
While we give GM a 'B' for effort, this news is not as compelling as it sounds.
Shelly Lombard
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