This is a bit of a tough one. My ordinary instincts are to let Detroit founder. They have managed to adopt a totally screwed up business model that incorporates a total capitulation to the unions. Why haven't Toyota or Honda indicated that they are about to go bankrupt? They need radical changes and bankruptcy will bring that about (or they will be liquidated).

Would a bailout end up being any better? The necessary changes would obviously not come. All of the industry publications I have been reading indicate that GM needs to downsize on the order of around 40%. That won't happen absent a bankruptcy proceeding. They need to shed dealerships, brands, employees, and plants. In fact, it would almost make sense for them to give up the American market and focus on Europe, China, and India, where they appear to be cleaning the clocks of the Japanese. Whood of thunk that? Seems there still is some sort of cachet for an American automobile overseas.

But the prospect of bankruptcy at this point in time still seems scary to me. I think the only thing that allows me to promote the idea is that my line of work is very far removed from Detroit in every way. If I were living in the upper Midwest I do not think I would have written the preceding.

Get your facts first, then you can distort them as you please.