Bob Lutz
, at the NY show, predicted neither GM nor Delphi will go into bankruptcy, as the stakes are just too high. He didn't stop there, and took a few pot shots at those on Wall Street. Snippet: "Most of the analysts living in New York don't even own cars, and have never even visited one of our dealerships," he said.
Lutz further suggested that Wall Street analysts may have profit motives for casting doubt on GM's future...
"At some point, I start to question whether they're holding short positions on the stock," he said, referring to the practice of betting that a stock price will fall over a short period in hopes of collecting on the back end.
210delray says:
11:58 AM, 04/17/06
What is this -- Richard Nixon revisited (that is, shoot the messenger)?