Buffett may do some things to help out the Plunge Protection Team, such as, say "GM's prez is great, I think I will buy a GM car." But obviously, the man knows how to read a balance sheet which means he isn't going anywhere near GM's stock.
Sales of General Motors vehicles were down 25.9 percent in June, compared to the same period a year ago.
The company announced the figures in a news release issued today. GM says last June's performance -- with deliveries of 558,092 vehicles -- was the strongest sales month in 19 years, fueled by a promotion offering employee discounts to the general public. The Detroit-based automaker is not expected to offer the same incentive this summer.
The news comes as General Motors is weighing last week's announcement that the Nissan-Renault partnership is interested in buying a stake in GM. Billionaire investor Kirk Kerkorkian, who holds a 10 percent stake in GM, has urged the company's board to consider such a move.