[owlafaye]

GM claims bankruptcy will not be followed by new financing to re-start the company...part of the LIE

Filing Chapter 11 will release them from pressing debt, allow them to re-negotiate labor contracts etc.

The financing will come...inevitable, and it will come predicated upon new management and an entirely revamped business plan based on economical and "green" vehicles...not to say profitable eco vehicles, but break even eco-smart vehicles built under the Chevrolet brand, and accompanied by profitable current designs: less economical, fully equipped sedans and such as before. No Pontiac, Buick or Oldsmobile. Cadillac will be luxury, convertible and sports cars only. GMC will be trucks and Suv's only. Model selections will be pared down to essential types. Plants willl be modified to new designs and many plants will be sold. Labor will have to settle for new contracts that pay substantially less than the $71/hour average pay (including benefits) now paid employees in plants. Dealerships will fail for certain...part of bad business is a lot of loss. Think of all the investors who have lost everything in GM stock investments! They will NEVER recoup their losses.

Chrysler eliminated Desoto and Imperial and eventually Plymouth. With just the one platform, one 4 cylinder engined, front wheel drive K car and standard Van & Pickup designs unchanged for many years, they managed to become very profitable...then Mercedes Benz ruined them and cast them out the back door. Chrysler now could take some lessons from their remarkable past of K car times.

By the way, I bought those vans and pickups every few years from 1974 to 1995, still have 4 of them...NOTHING essential changed in all those years. Same suspensions, windshields, windows, frames, brakes and wheels, power accessories, doors generally, engines, transmissions and certainly the rear ends. My God-awful 904 transmissions were tossed and 727-A's installed with 300,000 miles on them! for just the cost of a driveline shortening. 300,000 mile trucks are the result of staying with a good design and refining it.

We cannot afford to lose the auto making businesses in America today...our economy is still based on autos. Ousting executives and labor contracts, re-inventing medical and retirement plans that are more in line with what other Americans receive, catching up with the world auto technology, reducing the obscene luxury and frivolous unending variety of models and engines, choices and foolishness...that characterize an American auto,...is the only way.