On Mon, 30 Mar 2009 11:51:25 -0400, "Eisboch"
wrote:

All the existing contracts
with everybody they do business with, including the unions, need to be torn
up and renegotiated

Unfortunately that is probably going to be politically unacceptable.
GM could have done it on their own but now that the donkey has its
nose in the tent it seems unlikely to me. They will end up being a
government welfare agency that also makes cars.