“We are preparing for the possibility of further reductions to our schedules as the virus spreads.”
“Even more damning than our initial report”: Carson Block of Muddy Waters.
Throwing good money after bad as a business model.
These days, markets forgive and forget anything except the suspension of share buybacks. Shares dive.
GM tries to shrink itself out of trouble. And it shrinks where it wants to grow. But when will it stop before hitting zero? Ugly charts of GM’s global vehicle sales, by region.
With Facebook, Intel, Cisco, Sprint, Amazon, Nvidia, LG, Sony, Rakuten, Ericsson, Nokia, etc. out, the gig was up. Other big conferences in trouble too. Tourism industry is reeling.
“We regard liquidity mismatches as a major structural flaw.”
Corporate America rerouted its supply chain to other countries.
81% of the vehicles are exported; they can be built anywhere. Honda is leaving. Nissan may be too. Vauxhall may be shuttered. Jaguar Land Rover offshored some production. But EV production soared.
The UK is out of the European Union, and “the rest frankly is detail.”