GM is no where near out of the woods.. and they can't count on a Tsunami/Nuclear meltdown knocking out their competition every year in order to stay as the world's #1 auto maker.
Traditional bankruptcy (what should've happened) would have been far more beneficial to GM than the ham-fisted mess of restructuring that saved the Unions on the backs of the non-Union employees.
Lost in all this were the multitude of dealers that lost their business since they were shut out of the negotiation table.
The airline industry goes thru major bankruptcy cycles every couple of 10 years and none of them have been the deathblow to aviation like the canaries in the coalmine talking about GM and the car industry.
Or is anyone old enough here to remember the Chrysler debacle of 79 with Lee Iococca? The gov't stepped in there too and they still went thru Bankruptcy eventually..
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