Should GM file chapter 11? - Ferrari Life
 
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post #1 of 2 Old 10-24-2008, 09:14 AM Thread Starter
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Should GM file chapter 11?

While it would be devastating for the economy in the short term do you think GM should fold?
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post #2 of 2 Old 10-26-2008, 09:30 AM
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No, what should happen is GM should be broken up into several smaller companies that will be better able to compete in the long run. To give these new mini-GMs a chance, the massive retirement and medical liabilities should be spun off into a seperate trust with some sort of partial government guarantee. Stock in the new mini GMs would be split between the govenment, retirement trust, and current shareholders. As part of the break up, all debt would be transferred into equity and the unions would have to accept flexible staffing and a 3 year wage freeze.
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