GM Smacks Exxon (GM)(XOM)
The management at GM should give up selling cars and trade oil futures. GM’s chief economist Mustafa Mohatarem says oil will drop to $40 a barrel this year. The man could make billions and keep his day job. GM’s ability…
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The management at GM should give up selling cars and trade oil futures. GM’s chief economist Mustafa Mohatarem says oil will drop to $40 a barrel this year. The man could make billions and keep his day job.
GM’s ability to see the future yields an view that oil will be much lower because of non-OPEC production increases and slowing economic growth.
Wall St. has to wonder if the economists at GM get paid extra for forecasts that would favor the car industry. Or, perhaps he came up with the forecast without any help from the teacher.
Douglas A. McIntyre can be reached at [email protected]. He does not own securites in companies that he writes about.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
