Yeah, GM is huge, and the state of Michigan is a major part of the auto industry. Up there, people are walking away from their homes...it's that bad.

While the management aspect of things isn't to be ignored, you can't ignore the fuel prices making a new car purchase less appealing. I believe Ford is doing worse, but still, it's not good.
It's like if there was an issue with corn and soybeans in Indiana not selling.