Dividends Anonymous

Pre-packaged Bankruptcy Is GM's Only Option - Barron's

It is clearly the "BEST" option, but when has management, the unions or governments involved ever made the best decision based on long-term sustainability?

More of the same, which will only perpetuate the cycle of boom/bust for the NA automakers. Sad, because GM could be a force globally if they only were proactive in managing their long-term obligations.

General Motors: Time to Pull the Plug

I think the unions aren't fully responsible, but they certainly didn't stop this ship from running onto the rocks. Do people seriously think that $50/hr to put a door on a car is productivity? It's a depreciating asset.
The bottom line is that workers are overpaid for their work and that contributes to the broken business model. Do GM workers deserve to make more than engineers, nurses or teachers? When you measure meaningful productivity the UAW's are overpaid on wages and benefits. Yes they got that because of the big 3's sickening addiction to SUV's and higher margin vehicles but UAW management should have been smart enough to see that as unsustainable.
Capitalism works best when the weak are allowed to fail. There are no freebies in business and Chapter 11 is calling their names. That will make them more competitive - not a bailout or infusion of funding

Let GM Fail

This is what Chapter 11 protection is properly used for - to protect a company from creditors as they restructure properly or fold. GM will not go away forever, but their business model is not sustainable. Their expenses are too high, revenues too low and products are not competitive with foreign competition. Management for far too long has been reactive vs. proactive and that gets you owned in the real world. I understand that the company is huge, employs lots of workers directly/indirectly and many pensioners - but it needs to restructure and the only way to do that so something is left is through Chapter 11.