The bearishness is overdone. This is probably the part of the cycle where you'd do well owning auto stocks if you have some patience.
It's not necessary for a wave of consolidation in the worldwide auto industry,
It might be a slight negative to the auto business if it distracts them from their plans. He's trying to stir up the pot to make more money for Kerkorian.
That increase to me suggests that the three-way negotiations among the auto workers union, Delphi and GM are progressing.