Should General Motors file for bankruptcy?

Hey Zac - nothing personal on the "trashing", but thank you for the link. In that post, I was feeling a little emotional from the constant onslaught of broader media trashing, but mostly I was trying to add some context to your words. If it came across as personally offensive, I apologize as that was certainly not the original intent. I know that you work hard on what you do and put in a significant amount of time and effort.

One thing I request in your writing is that you take just one second as you type to think about the significant quantity of people who are directly affected by the failures and successes of the domestic automobile companies. You have a tendency to make sweeping statements that, while potentially true, have a far more personal impact than you realize out on the East Coast.

Here's looking forward to the next bad thing you say about Detroit!

Ken

greetings. as a recently retired GM employee. what happens to the thousands of us. our pension ? healthcare ?

Tommy, join the rest of us who have already lost our pensions and healthcare. The government did not bail us out.

The car people use the same rap every time:failure will affect to many people. That industry has reached a size where it is no longer beneficial for the common good. They can't compete. Incompetence has hit all levels like cancer. Innovators never even get a breath because the roots of that cancer run so deep in so many directions. In Silicon Valley they have startups, venture capitalists, entreperneurs, etc. In the big three you have parasites. Everyone feeds off the hog. The President Elect is beholden to them before he even walks through the door. They delivered key states for him. It's a shame that he has to start off that way. Bankruptcy would free the Big 3. If they were to do that, as a taxpayer, I would be for helping them start over. They need a shakeout not a bailout.

With sixteen (16) billion in disposal cash.
Why would any private or publicly held company even consider bankruptcy ?
Mr. Wagoner, himself stated earlier this week his firm`s liquidty, some future aspects the company will/ will not pursue.
One namely, was no longer to seek the
acquisition of an added brand, etc,etc.
And to avoid bankruptcy, but, to enhance GENERAL MOTORS POSITION AS THE CURRENT LEADER IT IS WORLDWIDE.

Our goverment must allow the big three to go bankrupt so that they can break from the unions.

It's this or there will be a lot of unemployed out there.

GM needs to start all over. They need young, eager, energetic and tech savy workers. GM needs the right to fire the dead weight and those with bad attitudes that gum up the works. Keep the union, but allow GM to fire those that are intent on stalling and making trouble because they just want some power. Go to work to work or get fired. GM now can hire workers for $14.00. There are plenty of workers out there ready to work for that wage. Also, there are plenty of engineers out there that should compete for engineering jobs at GM as well, to make a set of vehicles that will bring loyalty back to GM. The Malibu, Cobalt and Saturn line is not quite what the tech savy youngsters want. GM needs a fresh face lift, Wagoner needs to go, and the union needs some more humbling, especially during these hard times. This is a battle in a global economy that we can win. GM needs a new CEO who is willing to give back the millions of dollars in perks and stock options and get on the shop floor and the dealership floors to see what it really is like. Again, any bad attitudes that are bent on vengance and finger pointing need not participate. Hot heads only want attention and power and slow the process down. If a CEO really does live in a common persons house and is not hoarding funds, and that CEO digs in everyday on the shop floor like a fearless general with his troops, that CEO will generate loyalty far more so than one who resides in an ivory tower.

I can not understand why we Americans for the most part, ignore the facts about our economy. We are quick to point fingers at GM management and the products that GM builds. And the media is quick to ask for our support to let them fell.Fox news this morning said to its listners, GM has been out smarted by the Japan for 30 years! Does this mean that China is smarter than US toy makers, or that the middle east is smarter than US oil men? Are we all stupid Americans? Except the TV Reporters. Come on people Japan companys do not have to answer to our government in the same way as GM.This country beggs to get its ass kicked by other countrys.We give every body rights here in the USA, some have more rights here than in their own country. Most imigrants after moveing to the US still seek out products from their home country.We the people ,mostly seek out products made else where.Next time your in Wal Mart just start picking up things and read where it is made.Wal Mart what happened to "We sell only made in the USA"??????? Whats bad is the public realy could care less. I do think, If you are not part of the cure then you are part of the problem. The problem is the unions.Unions make us stupid and Japan smart. PS GM makes NO passenger car that gets less than 31mpg. Compare Impala {the biggest car GM makes} to HONDA, TOYOTA , NISSAN, and all the other imports mpg.Then this gas guzzler bull sh-- will be cleared up.

GM has been FALLING IN SALES FOR YEARS! THEY EVEN USED HOLLYWOOD TO PROMOTE THERE HOMELY CARS! EVEN SHAUN HANNNITY,GLEN BECK, RUSH TRIED BUT IT FAILED,SO THEY FURTHER SPENT MONEY ON COMMECIALS THEY COULD NOT PAY FOR! LET THEM GO BANKRUPT, LIKE EVERYONE ELSE DOES WHEN THE BILLS DONT GET PAID!

GM should go and ask the Mexican government for money ... They did not hesitate to send jobs there... Go pound GM!!!...And Unions...Your history (Your actions and polices are not indicative of the reasons you were established)

Yes they should file.!!!! that is the only way to get rid of the lazy CEO's. It is the only way to finally cut the lazy and only care about themselves UAW workers off at the knees and le them see what there blood sucking Greedy demands over the years have done. I worked for a forging company that GM AND FORD were the direct Cause of a company older then theres going Bankrupt because in 2005 they had there payments for parts out to 180 days. We filed a lawsuit asking for back payment or we would stop shipping parts. The judge ruled we could not shut GM or Ford down as we were he only supplier of these parts.!!! And if THE PAID US ALL MONEY OWED they would not beable to meet there payroll. So in june 2005 we filed chapter 11 there was a company ready and waiting to take us over we had 10 Million a month in buisness between the both. But before they would purchase us the gathered all union workers here was the choice no raises for 4 years,no more pension plan what ever was in it the Goverment took over retired workrs now get 1/4 of what they were gettng.Start paying 50% of our health care instead of 25% Give back 3 of 7 holidays.NO more health insurance once you became eligibe For Medicare.!!!!ALL of our cash was tied up in steel purchaced to make parts that GM AND FORD had aallready built cars and sold. Life sucks after 30 yyears in a plant 140 degrees in the summer and -10 in the winter. GM neded the money to pay the laid off workers n the pool there pay and insurance While the sat at home. The they had the nerve to strike.!!! MY life as i knew it ended 3 years ago at he hand of the GM UAW WORKER. Join us some friday when we pass around spam and Bread With water at who ever still has a house to meet in YOU GREEDY SUCKERS DESERVE WHAT EVER YOU GET>!!!!!!!!!!!!!!!!!!!!!!!!!!!

I grew up in a Chevy town on the east coast. My dad once worked there before the war,as did many of my friends and their fathers. That plant closed many years ago,it ranked last in quality cars. GM produced junk all through the 70s,80s,it caught up with them in the 90s as the jap cars outsold them by an ever widening margin. That aside,it is the outrageous wages these guys have been paid and their outlandish job banks and severance pay and their no co-pay medical benefits that really grind me. When you buy a GM product you are paying for the socialist ,union benefits,overpaid wages of under educated employees who think they can strangle the company with their demands . Bankruptcy is the answer to end this plague upon the Big 3 .

Jed: I currently live in Lansing Michigan and I have to tell you that I agree with everything you have said. I blame the UAW. The pay that the auto workers recieve is totally out of line. The Jobs Bank has been abused for years!! A Lot of the "auto workers" that are in the Bank right now have been there for in some cases ten to fifteen years. Most of those are able to retire and have been for years. But, for every year they spend in the Bank they get an extra fifty dollars a month when they do retire. I believe that in the last contract the jobs bank is now limited to two years and was supposed to close in Sept. of this year but it is still there and going strong. I am also not sure if the two year consession was to be retroactive? Maybe why it has not closed?