It decided to mostly distribute to shareholders through dividends, debt paydowns and buybacks.
Where it did reinvest back into the business, with the benefit of hindsight, we now know it did not do it particularly well or efficiently.
Where it did reinvest back into the business, with the benefit of hindsight, we now know it did not do it particularly well or efficiently.
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And once EV technology came of age, the writing was on the wall in China. It was only a matter of time.
The lesson isn't that GM should have never entered China.
It earned tens of billions of incremental dollars for doing almost no work and putting very little capital at risk.