GM is not going B/K If the brain dead Gov. does anything it will be a DIP form of B/K Gm will survive this mess. The economy will turn. Cars are something people simply need they do not last for ever. The demand will be back and GM,F will be cash cows when that happens.
Funny how we can spend billions building F-IN schools,hospitals,roads,bridges and welfare for Iraqis and Rag head Afgans. but are so willing to throw tax paying Americans workers both union and non union under the bus.
I don't know, GM may file chapt 11 and you know what I'm okay with the concept because hey its capitalism if you make products that people don't want or manage poorly you should fail.(ASH). GM went wrong a long time ago. Lets Face it GM today is a pension and health care plan that builds cars for cash flow. Our goverment needs to help all corporations and individuals deal with this. I read someplace that GM spends 3-4K more on a compable car than Toyota simply becasue Japanese workers have govt pensions and health plans. Thus for the same cash outlay consumer gets more car with the Toyota. I'm not advocating socialized medicine but you know what there are a lot of countries that are in better shape health wise and whose economies function just fine that have it. But it does bother me as you said that there is still tons of money just being spent on all sorts of nonsense from foreign aid to congressional pet projects. How about we run govt like I run my life spend the money on what's needed first and save some, then if you have some left over spend that on nice to haves.
Any way back to ASH this is a company that needs to admit it is a mess and let someone else fix it either through acquisition or complete firing of current management team. I wonder if the reason they can't fire them is that the golden parachutes are worth more than current market cap.