Not sure what possessed me, but I had a look at the General Motors website, which has a curious intro movie that says, in effect, “well, back to the drawing board.” I’m unsure whether GM’s failure to ignite the passions of the car-owning public is solely to blame for the company’s collapse and subsequent bailout. I have read at least two analyses that suggest there were structural labor and financial decisions made in the 1950s and 60s that later bore their fruit and killed GM’s profitability. The idea that GM might be able to wipe the slate clean and start again by designing cars people want to buy is the clear affect of the website, complete with shots of ultramodern architecture and designers at the drafting board, as well as a couple artisans shaping body panels.
GM was relisted on the NY Stock Exchange a couple weeks ago at a little above $34 per share, a huge increase (200+ times) over the amount it eroded to before it was unlisted last year. I have no stock advice, but I do find it curious that many would want to play the “fool me once … fool me twice” game with this company.