Massive earnings hit in 2012 (down big from 2011)
Huge govt position (300,000,000 shares the government DOES NOT WANT!)
Massive Canadian and UAW Medical trust positions (another 300,000,000 shares or so) they DO NOT WANT!
Still infected with UAW-itis. By the time earnings pick up, the UAW will want new contracts with their 'fair share'
Massive inventories sitting unsold on dealer lots (over 700,000)
Earnings are weak, even though GM is temporarily not having to pay Federal Income taxes! Wait til that goes up to the usual corporate rate of 35% its competitors have to pay.