Quote:
Originally Posted by Buickman
the government should not bail them out. it is the direct fault of management, the Board for leaving Red Ink Rick in place, and the shareholders for keeping a useless Board. any guarantees or money given will only be wasted fruitlessly by a management team incapable of stopping the downward slide. much as I love GM and hate to say it, GM must be allowed to go under.
the writing is on the wall, negative $41 Billion in shareholder equity, and the same old goofy, cheeseball, money losing, distress merchandising SALES which are the reason we have gone downhill. I feel no sorrow or pity. they just wouldn't listen and now they are toast. too bad for those who will suffer because of Wagoner. as I said we don't need a Volt, we need a Revolt!
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If they go bankrupt the shareholders, board members, and Wagoner will pay. But the government may still have a role in ensuring that post-bankruptcy GM is sufficiently capitalized. Then again, government action may not be necessary at all, but it should be something that our political leaders are willing to consider (although some of them seem to have no interest in the autobuilders at all).