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Originally Posted by UCF w00t
Ugh. GM has made lots of tough decisions and would've been fine if car sales weren't at their lowest in 50yrs. I mean, where's oldsomobile? That debacle wasn't a tough decision? With the union laws and strong union lobbying that exists, what makes you think they would get a better contract through bankruptcy? Shoot, with the democrats in charge the union would OWN GM (figuratively).
It always has been and will remain to be a very long shot for GM to make it out of chapter 11. Noone will buy cars from them. They'll need tons of $$$$$ from somewhere to make it through that scenario. And they surely aren't getting private funding for that.
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Funny I have a friend from Great Britten and about 5 years ago we talked about the Union possible being the end of GM, because the Unions I guess doomed the GB auto industry from what he told me. I hope the UAW gets smart.