the details

GM and Ford: Still Easy Shorts

Great articles. Commenting now in September and looking back, or forward, I only see much more of the same. Anyone who believes that the coming $25B federal loan will solve their situation is wrong. Look at GM's balance sheet. Even better (or worse), look at Ford's financing division, its total debt and its default rate. If you thought of Ford as a failing car manufacturer, how about thinking of them as a credit bank, which is what they essentially are for the past couple of years ... starting now is almost too late.