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Maybe in the past they had bad management -- I think, in my opinion, that the current CEO is pretty good and he did manage to turn around GM ever so slightly but then got hit with high gas prices. All US manufacturers were counting too much on gas guzzlign SUVs, so no wonder Toyota is closing in on being number 1.

Current management is terrible. CEO Rick Wagoner is a GM lifer. He was CFO before becoming CEO. His tenure at GM has coincided with the evaporation of GM's market share. When he became CEO it was 30%, now it's less than 20. The company hasn't been profitable in, I think, four years yet he took home $14.4 million last year, all the while talking about how GM line workers had to sacrifice. He's the classic inbred, out of touch CEO surrounded by yes-men. The company has no chance to turn around under his leadership.