Lutz: Apple Entering "Gigantic Money Pit" In Car Manufacturing

Former General Motors executive Bob Lutz has a warning for Apple after the Wall Street Journal reported it is entering the automotive market: get ready to enter a “gigantic money pit.” But in his critique of Apple does he miss what has driven their unique brand of success? Lutz: Apple entering a loosing venture, but it might not matter Speaking on CNBC’s Closing Bell Monday, Lutz outlined a scenario where Apple is likely to enter a losing venture, which should be a concern to investors. “If I were a shareholder I’d be very upset because they’re currently engaged in a very…