To all of you saying that GM should just file chapter 11...
Quote:
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"I don't know what you're going to call it, but they're going to go through bankruptcy, whether outside the bankruptcy system or with the benefit of the courts," said Maryann Keller, who has written about the U.S. auto industry for three decades. "At the end of the day, the United Auto Workers are going to have to take a haircut, creditors are going to take a huge haircut and equity is gone. What will effectively happen is exactly the same as bankruptcy."
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http://www.washingtonpost.com/wp-dyn...l?hpid=topnews
This is a pretty good article and is what I've been saying. This is basically bankruptcy without the title of it that will lead sales off a cliff.