24 Aug 2001 “As Goes General Motors So Goes America”
Posted at 11:24h in The Friday BriefFor years investors took comfort in the statement above. Contemporary investors, including this one, took comfort on Tuesday when the automotive giant affirmed its third-quarter profit outlook and production for the year, four days after rival Ford Motor Co. lowered its earnings forecast. That prediction shocked investors who had been reassured by stronger-than-expected first-half U.S. auto sales as the economy slowed. GM’s confidence on Tuesday gave investors a glimmer of hope that the economy‘s trend might be improving.