I don't claim to be an expert on the auto business. However, I've owned GM products for many years, just purchased a new Yucon XL (by fourth) and it's an excellent vehicle for my purposes.
GM needs to rid itself of the union wages and benefits problem to be competitive IMO. I believe that will now happen. If the company needs help to come through this I would support a Fed loan for restructuring. Just my opinion.
GM will shed it's pension and retiree health care obligations by filing bancruptcy. Then us tax payers get to foot the bill. GM gets to keep running with fewer expenses. The unions did the same thing to the major airlines that declared bankruptcy. Now their pensions and benefits are slashed because of these bankruptcies. Unions are one of several things preventing companies from making changes needed to stay competitive. Then they get worse changes when their employer declares 'game over' and files Chapter 11. I bet it will happen before Oct. 17 when the new laws kick in.
" I've owned GM products for many years, just purchased a new Yucon XL (by fourth) and it's an excellent vehicle for my purposes. "
That's the irony; GM has gotten their quality way up there, too late. The competition is fierce, even without China's input. GM's weakness is design, which Bob Lutz is slowly fixing. And union, medical and retiree liabilities.
I'm a non-union retiree. :-)