Ann: Quarterly Report and Production Guidance/Cashflow Report, page-150

When I read the report, I thought that the market should have been advised some time back on the production problems. I am sure that management was aware of the problems and I wonder why this was held back until today. When a company is commencing production it will have teething problems and needs to sort them out, be upfront about it.The earlier forecast was too optimistic and I am not sure who provided these figures.
As GM is the Chief, he is responsible and I am sure the analyst in the likes of State Street figured this out and did what they do best. I had some suspicions about the production as the shipping figures were not adding up to production estimates and am disappointed with GM.
In light of this shareholders will have to wait for another year at least to see the light at the end of the tunnel.
GM is a very inexperienced person and not having CEO capabilities to run a company. There were pluses in the financial side especially that they have no debt and $152M cash. The report did not sufficiently expand on this neither did they provide sufficient information on what they will be doing to speed up production to ensure that this is a serious company which has the potential of forging forward and rewarding his shareholders. Management, you honeymoon is over and so get of your backsides and justify your worth.