SteveD64

Bail Out Capitalism, Not Detroit

GM needs to go to Chapter 11 in the next few weeks...Fed money goes to guarantee warranties, sales etc etc and cash flow issues.

Bring in someone like Warren Buffett/Berkshire to oversee, analyze and design a business plan for the future....

Buffett brings instant credibility, knowledge and, most importantly, objectivity. No other party is objective....all have their interest at stake.

Only in Cp 11 does GM have the legal authority to reject contracts: UAW, Dealers, Suppliers, Retirement packages etc etc

This will allow time for a slow re-adjustment, normal attrition of the workforce, worker re-training, etc etc....

The total process may take 3/5 years....GM will come out a much stronger, streamlined company for the future

But you need someone like Buffett to have credibilty with the public that they are not just throwing good money after bad.