On Sat, 15 Nov 2008 03:58:49 -0500, "Eisboch" wrote:

Although it would be disastrous for the employees and suppliers for GM to
fold, I also can't see why the taxpayers should spend good money after bad.
The only way I personally could support a general bailout would be if it
were tied to a very specific and aggressive business plan laid out by GM
that would cut costs, simplify operations and overhead and otherwise provide
believable proof that the bailout money would not simply extend their
existence for a while longer while business goes on as usual. GM had the
opportunity to address their problems and have done very little to save
themselves. Their problems did not originate with September's market
meltdown.

Well, there you have it. That's the problem.

However, the problem is that that is the problem. They've had time to
do this and refused. For various reasons, but simply, refused.

There is another way to look at this. While certain companies are too
big to fail, the opposite is also true - companies can be too big to
succeed.

GM is a case study in being too big to succeed.

My own feeling is that let 'em go. Do the pre-pack, restructure to a
smaller, leaner, less expensive operation, drop a number of lines that
make no sense (like Hummer) and start competing again as a more
efficient and cost effective company.

GM going under will give Ford some breathing space and possibly
Chrysler.

You also have to look at something else - this represents a good
opportunity for small businesses to pick up the slack. For other
ideas about fueling transportation needs to come up for air and be
seen and evaluated. It's not all going to be in the hands of GM -
opportunities of a smaller world in terms of manufacturing actually
make for a larger world if only because now the ogre is gone - other
people, other ideas, other methods.

You know, all you have to do is look back at the history of the heavy
construction and farming equipment manufacturing business - hell, even
the heavy machine tool business. Too big to fail? International?
Allis Chalmers? McCormick? Heald Machine Tool? They all made lousy
bets and they are all gone. Once the monsters were out of the way,
the smaller companies like Deere and Cat and Case could innovate and
take over.

And they are still around.

Again, too big to fail also equals too big to succeed.

Let GM die - fertilizer for smaller, leaner and better companies to
suceed.

That's my story and I'm sticking to it.