This being America, and this specifically an American forum, I assume I can disagree without repercussion....
soooooooo....no can do....I believe Chapter 11 is the right way to go, and believe a loan would only delay the inevitable....the big 3 have been backsliding for too long.
I understand them being opposed to bankruptcy, a lot of high paying corporate positions would be in jeopardy....unfortunatly that's what's needed. The companies have undeniably been mismanaged for years, and, sorry, but I for one don't believe current management is capable of turning it around, at least not without relief from many of the impediments to a turnaround offered by bankruptcy. The resulting ramifications of bankruptcy, appear to me to be far better than the companys' total demise in the not too distant future.
.....and, yes, I WILL still buy a car from GM if in bankruptcy, with even greater confidence of them being around in the future to honor warranty and parts obligations....and, yes, I will wait for my Camaro if a delay is one of the outcomes - like I haven't waited already! Ha!
2SS/RS Black/Black w-Cyber Gray stripes/Auto ordered-10/18/08