As General Motors ( GM) has been tumbling toward its 943-year low, The Business Press Maven has been curling up with a bowl of popcorn and watching the show.

By "show," I don't mean the stock price decline, which is too tragic and predictable to have any entertainment value. Boy makes big car: Boy makes bad loans. Boy lives sadly ever after.

No, The Business Press Maven has been watching a much happier show -- one written by and starring GM executives themselves. It's called the GM FastLane Blog.

Here's the deal -- and it's a good one for the savvy investor who wants to gauge how tethered GM executives have been to their unfolding reality and how truthful they are when left entirely to their own devices. On their blog, GM executives up to and including CEO Rick Wagoner write their own little articles or simply look into the camera and speak directly to the American public.

No nettlesome business media interfere, asking follow-ups or framing the blog posts against a larger reality, and the investing public certainly learns something as a result. As woefully flawed as the media can be, taking them out of the equation to speak directly to the public is sometimes a case of be-careful-what-you-wish-for.

You can't, for starters, blame them for taking what you said out of context.

On Sept. 22, just over two weeks before GM hit that 943-year low, CEO Wagoner starred as himself in a video. Wearing a khaki suit (past Labor Day, tsk-tsk) and perhaps a little too sun-kissed for a guy who should be working triple-time saving his company, Wagoner, in the words of GM flaks who created the site, would "kick off our `The Case for GM' video series."

He was soon talking about how the company's future is "quite bright."

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