Poor leadership presence in last 2 weeks. No TV appearances expressing support of 'we are here to help in this time of need'. They are too focused on cost cutting employee salaries thinking that will be the solution to their problem. The whole world shut down and they are trying to squeeze out savings to help EBIT. GM has made money nearly every year since bankruptcy and they are afraid to spend at their own cost to help manufacture solutions. I thought they had a large cash reserve of $20B to prepare for any downturn. Not only did the gov't lose about $11B on the 2009 bailout, but the company now has money on hand that they don't want to quickly use for American lives.
I guess the $14B in stock Buybacks GM has done since bankruptcy didn't amount to much. Think about that. $14B in buy backs that didn't amount to anything along with $11B loss to the gov't from bailout.
GM could have jumped out early to show their care in this time of need.
PR media statements on paper are too late to mean anything. They are all afraid to show their face on TV , even early on and definitely now, because they are not really worried about the people, just the company earnings. Barra will probably be gone after over 40 years with the company. You can't spin General Motors as stepping up to the plate when they never showed their face or concern publicly as coming together as a nation.
Totally blew any future positive publicity showing GM vehicles and the company stepping in to help. Any commercial that GM tries to make them out as helping out with ventilator/mask production is non-impactful and will be almost silly to watch.
Enjoy the show.