by cglenhar...if one has a good understanding of the bankruptcy options available.....each and every one allows for the CONTINUATION of business....each and everyone dictates a structure and procedure resulting in a plan to restructure the business, reorganize the company all aimed at becoming more viable. This could also mean some lawmakers will not continue to get perks and contributions from the big 3 anymore....conflict of interest!!!!

The current management keep saying bankruptcy is not an option for very good reasons...all personal...they lose their job....there is an accountability to a higher authority.

So when folks like me and many others are against the bail out and for bankruptcy it is because in the end result there will be a better, stronger more competitive company....and yes there will not be the ridiculous wages previously paid.....and yes they will have to do more than they do today to take home less....but they will have a job.

We also know the profits from the foreign manufacturers with plants here go back to the home land. That's the point.....they came to the US to reduce costs....manufacture in their biggest market....while the US car companies were doing just the opposite.....whether your talking autos or appliances...or almost anuthing else....they all thrived when they had 90+% of their manufacturing her in the USA. Labor costs, plain and simple were the main driver of pushing, at first, component assembly off shore....eventually it all went off shore as in appliances....and in some automotive the entire assembly plants to Canada, Australia, Mexico. Not only was the labor less costly, the workers put out more per hour than the American unioinized counter part.

Like too many other things in our lives today....the objective is profitability for the sake of profits....in days of old the objective was build the better car....provide health care....service from banks....all customer oriented entities.....now replaced by profit only entities and little emphasis on the customer.

I know....I lived the growth of the appliance business at GE in Louisville KY...1965 employment 10,000......1975-1985 employment pushing 25,000....current employment less than 5,000.......100% driven out by high labor costs while at the same time expecting less out put.

For the loyalists to the automotive industry, you should be praying for bankruptcy and reorganization.....not handing the same old boys at the same old company paying the same old high wages for less output and less quality...it does not take a genius to calculate the success possibility...but just in case....it is zero! Promising an electric car sooner.....what a joke!!!

Having lived it.....don't give them a dime!!!!!!!!!!

BTK