With body blows coming on a nearly daily basis, GM has begun the process of letting us, the motoring public, know that it is mulling filing for bankruptcy. There are serious doubts from internal auditors and analysts about the company’s ability to survive on its current course.
GM was opposed to a bankruptcy filing last year because the thought was that it would scare off too many potential customers. The customers have responded by saying that they’re scared shitless anyway as sales continue to plummet by massive amounts month after month.
The most comprehensive look at the situation we found was a Wall Street Journal article that really lays out the options. After you get home and pour yourself a tall glass of 80-proof booze, click here and wrap your brain around this.
