With the news that a group lead by Kohlberg Kravis and Goldman Sachs bought 78% of GMAC Commercial Holding Corporation, and the proposed worker buyout coming from the UAW/Delphi talks, it appears that General Motors Corp. (GM) may have finally been dealt some good cards.
The yield from the GMAC deal, including repayment of inter-company loans, will total $9 billion. If enough workers take the news buyout packages GM has offered, the company actually may be on its way to having a cost structure that matches revenue.
There are still several hands to be played, but the news of the last 24 hours has been good.
Douglas A. McIntyre is the former Editor-in-Chief and Publisher of Financial World Magazine.