You said, “The whole company is nothing more than a welfare program for unions using auto production as a front to launder money.”
Exactly!
GM is too corrupt and too sick to save. Even the Socialists seem to be realizing that, but they are betting on an expansion of federal welfare to cover all the GM “workers”, about 120,000 in the U.S. Watch, as they all become covered by Medicare or Medicaid, and receive other government payments - perhaps Socialist Security payments even before age 62.
The Socialists control our government, and the will act in accordance with the principles of the former USSR. Another excuse to expand class warfare.
We (the American taxpayer) should have bailed out General Motors, Chrysler, and American International Group (AIG) AFTER they filed for bankruptcy. The automakers’ stockholders should have been completely wiped out, the bondholders should have taken over the company, and the Union contracts re-negotiated. The bogus claims that these companies couldn’t get bank loans after filing for bankruptcy were just that — bogus. These companies couldn’t get any bank loans before they filed for bankruptcy.