Portfolio Killer #7: General Motors

This is a ridiculous company with an even more ridiculous management group. General Motors' (NYSE: GM) cars are mediocre, its union contracts are incredibly extravagant in a brutally competitive industry, and management seems to think we are still in the 1950s.

Recently, the company's auditors raised even more concerns about the automaker's ability to survive without more loans from the government.

GM's own forecast assumes survival based on a car market that is larger in 2013 than it was in 2006. Yeah, right.

True shareholder value: zero

Michael Shulman is a contributor to OptionsZone.com.

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Last updated: February 13, 2012: 01:43 AM

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