General Motors employee sentiment high despite falling stock price
It’s been a volatile few days for General Motors. The automaker’s shares fell six percent at the end of last week as pessimistic investors eyed contracting markets in both China and the United States. After a slight bounce back, the company's share price is still a ways down from its all-time high almost exactly a year ago.
It's also worth noting that the company's bankruptcy during the Great Recession is fresh in generational memory.
But General Motors is an icon of enterprise cut from a different cloth than, say, Sears, which was simply dismounted by a faster, cheaper, digital Sears. GM built Detroit and drove us into modernity; it arose from bankruptcy to become one half of a political battle cry bellowing American fortitude.
“I’m clearly a frustrated investor,” one investment firm partner told Reuters. “GM is a name that I am still particularly bullish about despite years of disappointment.”
He’s not alone. Despite falling share prices, GM’s employees reported on Glassdoor that they are more optimistic than not about the company’s future. And although that faith began to dip early this year, it’s currently about as high as it was a year ago.
And those employees by and large approve of CEO Mary Barra’s handling of the company. Barra is widely credited with correcting the company post-bankruptcy.
The company is also hardly shedding employees, or so it seems from its LinkedIn profile. There, nearly 50,000 more accounts identify themselves as an employee with General Motors.
As Business Insider put it, “GM has made it through two world wars, drastic shifts in the global economy, the Great Depression, and the Great Recession.”
Quarterly earnings rotate, stocks rise and fall, but this resilient company’s workers, and its fondest investors, are keeping their eyes further down the road.