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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.

GM - bankrupt and bailed out by taxpayers. Ford - not. That’s some great management at GM. Maybe the sun was in their eyes or the refs were against them. You can say that the stars were out of alignment, but it doesn’t negate the fact that they failed, and failed big. And that falls on management’s shoulders. They can try to shrug it off, but it’s still on their shoulders.

When International Harvester went under (the totality of which took a couple of decades) they had assets of value. GM didn't.

When it comes to GM there's no there there!

NOTE: first time the new management and the union had the chance they rewarded each other with bonuses. No rational observer of America's automotive industry could possibly imagine anything other than dissolution and disposal of assets as the next step.

EVERY single GM vehicle I have owned has been an unmitigated piece of ____. Celebrity, Vega, Malibu, 3 pickups, all garbage.

The Dodges I owned were competent but drove like overloaded haywagons.

The Japanese cars other than Nissans have all been competent but totally without any personality.

As some say, I’d rather push a Ford than drive a Chev, but I know I can rely on the Ford, and pushing it won’t happen since it’s this little thing called RELIABLE!

Go ahead and waste your money on Obamobiles. I’ll be along eventually to tow you home faster than your POS could propel itself.