My view of AXL is that they over-promise and under-deliver.
13 to 13.5% EBITDA? What happened to the 15% they were so proud of in the past?
What happened? Why is it two points lower?
And why should anyone believe they'll make 13 to 13.5% in 2013?
It sure would be nice if they would share some specifics of how they intend to do this.
Is there anyone in AAM management who would be willing to bet his/her bonus if they miss?