NPR shares news indicating that GM is actually willing to cut costs to preserve itself:
For years, General Motors has been the biggest sponsor of professional football, indeed of professional sports. But this year, the automaker is pulling back. No Super Bowl ad is planned, and GM is cutting back on spending on the NFL for the rest of the season.
This year, longtime Super Bowl advertiser GM looked at its showrooms, looked at the balance sheet, looked at the price tag — and opted out.
“It happens that we don’t have vehicles to launch during that time, so it makes sense not to launch any ads during the Super Bowl,” says Peter Ternes, director of communications for GM in the United States.
The news is both scary and welcome. Scary in that, as the article points out, the NFL is a juicy destination for advertisers. Missing out on the Superbowl treasure trove means that times really have a’changed for GM.
On the upside, GM is willing to forsake an expensive opportunity to cut costs. Management recognizes that there’s no point in spending millions on Superbowl ads when that money is the difference between life and death. This kind of discernment–atypical in light of the Citibank bailout–almost makes me want to support a bailout.