[Farmer Dean]

Look at all the good used cars available for 8-12k.If the big 3 went under there wouldn’t be a shortage of cars for a couple of years at least.By then Toyota,Honda and others will have expanded production.

[muawiyah]

GM has a number of options in bankruptcy ~ sale to the highest bidder, sale of intact selected assets to other manufacturers, simple protection from creditors (essentially "forced loans"), and so on.

They get rid of the contract if they opt for bankrptcy.

UAW doesn't want them to go bankrupt.

There's another option ~ the International Harvester Plan ~ there the company became a vehicle for funding the employee and retiree health insurance plan.

Let me suggest that it's elementally unfair to make International Harvester's retirees to pay taxes only to have them transferred over to keep GM in business.