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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Dec. 4, 2008

We're sorry to be asking for this support. We wish the market conditions were better. They're not, so this is what we need to do."
— GM Chairman Rick Wagoner

By Editor  |  December 4, 2008; 1:51 PM ET
Categories:  Quotables  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Economist: Big Three Really Need Up To $125 Billion
Next: Sen. Corker Harangues Chrysler


Wagoner receives millions when the company is in trouble. GM hedged a bet that people would buy gas-guzzlers. While gas was cheap that paid off. However, when gas got more expensive, the demand for fuel-inefficient cars tapered off. Nonetheless, GM failed to keep with the shift towards more fuel efficient vehicles.

Posted by: UnPatriotic | December 4, 2008 7:50 PM | Report abuse

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