Government Motors has problems

From the New York Post:

Neither current management nor its government masters dare admit it, but the truth is obvious: The bailout's been a disaster for taxpayers and GM's pre-bailout stock- and bondholders -- and for GM itself.

GM's management team lacks stability... fourth chief executive in less than two years...
Chinese market is far less profitable than North America...
GM's European division, Opel, continues to struggle...

More problems are already in the pipeline. The company's probably going to have to dilute its shares again: It recently laid the groundwork for further dilution by raising the number of authorized shares from 2.5 billion to 5 billion. I don't see how GM can meet its UAW pension obligations without issuing more shares -- but that will inevitably push the stock price even further below the $54 price that's break-even for the taxpayers. 

http://www.nypost.com/p/news/opinion/opedcolumnists/government_motors_is_still_lemon_BdOQV86lpsfZx5LkTZd7aK