This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bolling: A Letter to Detroit

Dear Messrs. Mulally, Nardelli, Wagoner and Gettelfinger:

The popular reality program "The Biggest Loser" pits obese people against each other in a competition to see who can lose the most weight. Sound familiar? You, Detroit's Big Three automakers, are obese companies that need to drop the excesses weighing you down. You can't compete with foreign auto companies doing business in the U.S. and abroad. Each of you has an issue that should infuriate every taxpayer. On top of that, the United Auto Workers, the union representing your employees, has only exacerbated your problems.

Ford(F - Get Report)

Mr. Mulally, as Ford's CEO you are asking for a $9 billion line of credit ... "just in case." You have testified under oath that you really don't need that money but want it just in case one of the other automakers goes belly up. That would help your business sell more cars, right? With all due respect, good-bye. No money for you!


A few years ago, you, Chrysler, decided to get into bed with Cerberus Capital. Cerberus thought it would make a killing by changing your management and business plan. Cerebus took you off the market so that it could get all the profits. It didn't want to merely invest in Chrysler alongside us, regular Americans. Cerebus wanted it all. Greed got the best of Cerebus, and it bought a lemon. Sorry, Cerebus and Mr. Nardelli: You wanted all the profits, now you get all the losses. No money for you!

GM (GM - Get Report)

All I can say about GM is that you, Mr. Wagoner, have been asleep at the wheel. You should have been selling or closing units to raise money long ago. There is no reason to hang on to Saturn, Pontiac or Hummer. Keep on making Cadillac, Chevy and Buick. (We hear Buick is popular and profitable throughout Asia.) And what the heck took you so long to move on the Chevy Volt (hybrid/electric)? That car unfortunately will never see the light of day under the GM logo. Mr. Wagoner, you were slow to change, and we don't feel responsible for your errors in judgement. Sorry, no money for you!
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NSANY $17.55 0.71%
AN $47.32 1.90%
F $11.42 0.57%
GM $27.95 0.29%
HMC $25.56 0.95%


Chart of I:DJI
DOW 16,035.03 +20.65 0.13%
S&P 500 1,870.43 +18.22 0.98%
NASDAQ 4,342.8310 +74.0680 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs