Monday, November 17, 2008


I'm embarrassed GM and the auto industry would stoop this low. This video is embarrassing.

Btw - yes, those industries are in a world of hurt, but so are a lot. Going through a pre-packaged bankruptcy would create some pain, but it would also allow them to restructure all their debt, worker health and pension obligations and renegotiate their union contracts. I would love to invest in a slimmed down, healthy GM. I think they would give Toyota a run for their money. But they need to get lean before they do that, and a pre-packaged bankruptcy is the best way to get there.