Cost-reduction targets sound good on paper but achieving many of them will require UAW cooperation.

The duration of this gas spike matters.

Today's moves set the stage for a more significant discussion with the UAW regarding cost savings but have very minimal near-term cash flow impact.

An argument could be made for outright elimination of the dividend, though we view that as unlikely.

It is as if GM and Ford both walked outside on a rainy day, Ford somehow came back with a suntan, while GM walked back inside soaked.

We are pleased to see results improve, but our enthusiasm is tempered by several factors.