Quote of the Day: GM Does Better by Not Doing as Bad

Gotta love GM’s (GMGMQ) Fritz Henderson and his quaint Motown rhetorical tomfoolery! Here he is on the General’s progress through Chapter 11, as reported by Reuters:

“‘Business is doing better’ at GM, Henderson said, as customers, suppliers, workers and others anticipate the completion of a successful deal. He added that the automaker had originally hoped to repay its loans to the government and restructure outside of bankruptcy. Henderson said during questioning that while sales in June were not as bad as expected, they were still down. ‘We do not expect to make money in June of 2009,’ he said.”

Translation: Better business means still incredibly broke, but not quite as incredibly broke as in May. Funny how bland denials of how crummy things are in Detroit have given way to chastened honesty that might not actually be helping at this point.