MJN

GM: Bankruptcy Is No Longer an Option

I think there are 2 items we need to consider:

- First of all, the issue of "idle factories" would be temporary. Cadillac, GMC Trucks, and the Chrysler Minivan, etc. are valuable brands. Toyota (or some other auto maker) will move to buy and produce these brands if given the opportunity.

- Secondly, the total market cap of the "Big 3" is less than $12 billion. If (as you conclude) their obligations ultimately belong to the tax payers, then perhaps it would be cheaper for the Government to simply purchase these companies from the equity holders, and deal with the obligations as they see fit.