The Five Dumbest Things on Wall Street This Week

1. Under the Hood

General Motors (GM Quote) rolled out the hard sell this week.

The automaker met Tuesday with shareholders at its annual meeting, where CEO Rick Wagoner offered his latest turnaround update. "Our goal is to structure GM for sustained profitability and growth," Wagoner explains.

If that sounds like a laudable project, you'll surely admire GM's progress. Why, take a look at the first quarter. "We recorded our first profitable quarter in a year and a half," Wagoner says, as revenue hit a record $52 billion. "These were important milestones in our turnaround plan." ...