Replies

GM had been sufficiently hollowed-out and gutted by its own management that anything short of wholesale bankruptcy with sale of assets to more responsible owners simply wouldn't work.

New owners would have come to the business with OTHER assets as well as connections to financial resources ~ the government trick left GM with little more than the $25 billion Obama had promised them for development of high efficiency vehicles.

The inevitable is catching up with GM. This time next year they will be GONE.

GM had been sufficiently hollowed-out and gutted by its own management that anything short of wholesale bankruptcy with sale of assets to more responsible owners simply wouldn't work.

Absolute crap. GM was in process of reorganizing their company. They were on the right track. They got rid of Hummer, Saab, Oldsmobile, and most painfully iconic Pontiac. They only have 4 brands now (Chevy,Buick,Cadillac, GMC). Is this hollowing out or was it restructuring to be more competitive?

New owners would have come to the business with OTHER assets as well as connections to financial resources ~ the government trick left GM with little more than the $25 billion Obama had promised them for development of high efficiency vehicles.

More crap. You have zero evidence of this. It's pure speculation on your part. If GM had gone Chapter 7 there would have been NO NEW OWNERS in this environment. It would have been the end for this iconic company. Who was gonna step up and absorb this company? And what would they have done differently that GM wasn't already doing?

The inevitable is catching up with GM. This time next year they will be GONE.

Even More Crap. GM is profitable now and has a huge amount of amazing new vehicles in the pipeline. They will be stronger at this time next year unless the economy gets really worse.

Bottom Line: GM was making the necessary changes to be competitive when they got clobbered by this ugly recession which was caused by government. GM simply wasn't fast enough. If not for this recession GM would not have needed government assistance. Ford sales were way down in the same time period but they had more cash to weather the storm. But Ford does not and did not have better product. Both have excellent products now. GM will eventually be back in private ownership. It will be sooner than most believe.

The inevitable is catching up with GM. This time next year they will be GONE.

I tend to agree though they may hold on a little longer.

I really believe they were planning on the Volt and rebates from taxpayers bailing them out but there's every sign the Volt will bomb, even with the rebate.