jodifla
WDW lover since 1972
- Joined
- Jan 19, 2002
- Messages
- 11,605
I'm glad that the deal fell through. That leaves $14 billion in the hands of people that will hopefully put it to more productive uses.
Bailing out GM with their existing structure is a waste of money. It won't work. They have far too many workers, brands, dealers, etc. They are bound by contracts that guarantee their failure. Bankruptcy would be painful, but it would allow the new owners to be free of these onerous contracts. It would entail a huge number of layoffs, pay cuts, factory and dealership closings, but that would give them a chance to survive. Pouring more money into them without a radical restructuring is just heading down the path of making them a carmaker version of Amtrak.
Bankruptcy, most EXPERTS say, will likely mean LIQUIDATION of the Big 3.
GOODBYE 3 MILLION JOBS!