Re: GM not going bankrupt
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They are prime for a liquidation.
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FYP
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I apologize for that a smart ass response. I don't see any take-over, since no purchaser can fix GM's core problem, labor costs. There is no management team in the world that can succeed in the auto business paying $100 per hour for blue collar labor costs. Esp. when your chief competitor, Toyota is only spending $30 per hour.
And if you read the UAW's response today, you'll see they just don't get it. GM's only solution is to file for bankruptcy in order to get a judge to void their UAW contract, or burn cash until 2007, when the contracts are up. Either way they'll have to endure a strike. But I bet they lose less money not making cars than they do right now making them...
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