>> The concern that I have is not that GM should file for bankruptcy but what
>> happens to all the downstream businesses if it does. People seem to say
>> that "well the airlines file on a regular basis why shouldn't GM file?"
>> but I feel that the airlines don't have the same impact as GM does on the
>> entire economy.
>
>If they reorganize under bankruptcy, there is basically no reason why they >should
>close down for even a day. If that is the case, impact could be nil.
It's going to be an interesting hearing in Congress. Whichever way it goes, my bet is they survive. The CEO's are already toast. Current UAW contracts are toast. What I'm most curious about is what SUV and passenger car labels will be cut. On the car side I think Pontiac is gone. Haven't kept up with sales stats. I do believe the Dems will bump up the CAFE standards and increase the fed gas tax, which will have an impact on the direction GM goes. This is probably the cheapest gas will ever be. Of course, I'm often wrong. That's what makes it fun.
--Vic