In these and following presentations and in related comments by General Motors management, we will use words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal," "project," "outlook," "targets," and similar expressions to identify forward looking statements that represent our current judgments about possible future events. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors.
Among other items, such factors include: our ability to realize production efficiencies, to reduce costs and implement capital expenditures at levels and times planned by management; market acceptance of our products; shortages of and price increases for fuel; significant changes in the competitive environment and the effect of competition on our markets, including on our pricing policies; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; the final results of investigations and inquiries by the SEC; court approval of the settlement agreement with the UAW and UAW retirees related to the 2007 national agreement; negotiations and bankruptcy court actions with respect to obligations owed to us by Delphi Corporation, a key supplier; possible downgrades for GMAC or ResCap by rating agencies; developments in the residential mortgage market, especially the nonprime sector; and changes in general economic conditions such as price increases or shortages of fuel, steel, or other raw materials.
As an attorney myself, I greatly admire the artful use of “weasel words,” as evidenced supra. That doesn’t come cheap!
Due diligence is a bitch.
What the heck is their worldwide PR flak going to be doing now? Last time we heard he was telling MSNBC they were all wrong about GM.
Isn’t this pretty much boilerplate language though? I’ve read a few yearly reports, not a lot, but I’ve seen this talk before. But those were Tech companies, so maybe that’s a sign. Of what I have no idea!
C’mon now!
As an attornney, you surely must have seen many companies use this very same verbage in THEIR statments of business.
ANd I’ve certainly seen the same with more flair from the companies I invest in in my 401K!
So why is this so newsworthy?
We head the same wordings regarding “WMD’s.”
@gawdodort and rodster205
“this very same verb(i)age in THEIR stat(e)ments of business.”
NO. Maybe you didn’t read it through? I’d recommend you do – it’s a litany of situations that are quite newsworthy, in many instances. How about the SEC investigation being alluded to? What about the “nonprime” mortgages that make GM’s life difficult? Market acceptance of our products?
Seriously. It’s OK to defend GM, and yes, there’s boilerplate in contracts, but this is a litany of things that will go bad, and no boilerplate.
Read it.
This is a non-story. The risks are not boilerplate per se, but public companies ennumerate every possible risk they can think of, even if the chances of them happening is remote, to prevent shareholder suits. It is not a smoking gun or breaking news.
Not boilerplate – proactive CYA. And by your, I mean the individual who said it ‘cuz GM is hosed.