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Wagoner Circles 'em Up
By Seth Jayson (TMF Bent)
November 18, 2005

We've been covering the deteriorating picture at GM (NYSE: GM) for a while. When it engaged in the price wars with Ford (NYSE: F) and DaimlerChrysler (NYSE: DCX), we said, "Watch out. People are going to come to expect deals all the time." And they have.

In the face of actual profits from pesky foreigners, such as Toyota (NYSE: TM) and Honda (NYSE: HMC), we've said GM needs to quit with the sales gimmicks and get profitable closer to the top of the income statement. (And it wouldn't hurt to issue a little straight talk about stuff as important as major earnings restatements.) .......
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