Bah humbug!

"What is good for GM is good for America" is uuhiley ko kura khuiliyera gaisakyo.

Last time I checked, GM's stock was trading at below $2.  A company so laden with debt, ineptitude, dead-weight of pension and health care plan, and, on top of all that, so heavily burdened by the union's rigidity, I believe it is time for that company to go into bankruptcy.  Why should my tax dollars prop that mess up?

Bankruptcy might be the best solution for GM, despite what Rick Warner and Co. proclaims.  At least Chapter 11 will allow them to restructure their organization and debt.  So, when they emerge out of bankruptcy, they will become much leaner, much manageable, much viable company.

Back in the 70's and 80's Britain went through the same thing.  Their auto industry was in deep trouble.  They let it go bankrupt.  British brands such as Jaguar, Land Rover, etc. got picked up by foreign auto companies. The workers felt the pain initially but they got the necessary training and incentives to transfer their skills to another industry, mainly aviation a.la. Airbus Consortium.   Country moved on.

My 2 cents, if Mr. Obama is listening.