General Motors About Out Of Gas

Imagine you’re a high-flying auto exec in Detroit with a big mansion in Grosse Pointe, kids at boarding schools back east, club memberships, a nice boat, box seats for the Lions’ home games and so on. Then one day, a day like today, you open up The New York Times to learn that the castle is really made of sand and its collapsing all around you.

Just two months after celebrating its 100th birthday, General Motors is facing the grim prognosis that it may not survive to see another year unless it is rescued by a bailout from the federal government.
Shares in G.M. sank to their lowest point in 65 years, to $2.92, on Tuesday, the day after the company revealed in a federal filing that its “ability to continue as a going concern” is in substantial doubt because it may run out of money by the end of the year.

I guess it’s a good time to be humble. What other posture is available to an institution with both its hands out?

About David Burn

Co-founder and editor of AdPulp. I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. I worked for seven agencies in five states before launching my own practice in 2009. Today, I am head of brand strategy and creative at Bonehook in Portland, Oregon.