CarMax Results Paint Ugly Picture for GM and Ford

6/20 - "If you want to know why GM and Ford may not make it -- and I sincerely doubt Chrysler's any better, despite the endless puffing by CEO Bob Nardelli -- go listen to the CarMax(KMX - Cramer's Take - Stockpickr) call. This call was devastating. There has been the greatest deterioration in values and demand for SUVs and pickups in the history of these incredibly lucrative lines. It is a nightmare for anyone making these vehicles, and GM and Ford are the companies for this stuff."

"It is time to think the radical thought, again, that GM and Ford have too much debt and may pay to simply file for a prepackaged bankruptcy to become radically smaller companies making cars and trucks at a rapidly diminished rate...I didn't feel this way before the CarMax call. I just figured that it paid for GM to cancel the dividend. But the sheer cliff that these vehicles have fal...