Quote:
Originally Posted by Number 3
First, GM filed for Chapter 11 for the same reason a good chunk of America has, the global economy and financial meltdow. GM had a plan that was well underway that did about everything the bankruptcy did. Level set wages, eliminate the health care burden, reduced dealers and brands. But you probably weren't paying attention 2 years ago. And the difference between GM and Ford? They lined up financing outside of bankruptcy. They've borrowed dollar for dollar with GM.
And Mr. Lutz being reminded in the press that there is a product plan in place and lets stick to it isn't a stunt.
Lots behind the scenes you don't get to know about.
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The economy
hastened ch. 11, it did not directly
cause it.....
True GM had those plans, but they were moving too slow, that even without the economic downturn they would have inevitably had to file ch. 11.
Honestly those were things GM should have been working on 20 years ago, not two.
But that's a whole new ball of wax there.