Will China Be GM's Salvation?

Is GM doomed or will it's 'master plan' to sell fuel cell cars in China and India save the day for the troubled giant?

Published: 27-Mar-2005

I am reminded of the great adage regarding shoeshine boys and the Great Depression. When the most common of folk are jumping on a band wagon, it's usually the best time to get off.

It seems you can't read a single newspaper in North America these days without having General Motors' financial woes thrust into your face. News reporters, business reporters, even sports reporters can't seem to get enough of GM's declining market share and impending junk bond status.

But I knew the jig was up when some friends, employed in fields completely unrelated to the troubled auto giant, convened a round table meeting to "discuss what will happen to GM." None of them is employed in the auto field, none has relatives working for auto parts manufacturers nor do they have reams of money invested in Magna. They just decided that GM's woes were of such great import that they should sit around and blow smoke up each other's you-know-whats.

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