GM made a terrible bet with the ethanol thing, no one should be driving cars fueled by corn, it's inefficient because it takes to much energy to produce the ethanol and immoral. Also GM was already drowning under its debts and obligations way before this currant recession hit. It gave so many raises and benefits to its workers based on the demands of the UAW during the boom times when they were Americas preeminent car maker, but when demand started to shift to less labor intensive small cars the UAW refused to take the cuts in benefits and wages that correlated with the much lower price these small cars were made at.
There is simply no way that GM will ever make money as long as the UAW is around, much less has the power that Obama has given it. Really the only hope for GM and its workers is to abolish the UAW and let wages and benefits reflect the market price of the products that Americans are demanding and that they need to produce. As a poster said above this means more fuel efficient, safer, and in many cases smaller cars. The Volt is not something Americans are demanding and is at the hight of folly, this care will be 60,000$ base when it comes out and their are not to many people who are going to be spending Mercades money on a Chevy, even if it is electric.
I would propose that GM had gone into bankruptcy back in December when it should have instead of recieving billions in loans (gifts) from the Feds (all of us) that they will most likely never be able to pay back in full. That way the taxpayers wouldn't have wasted all that money just to keep the company afloat until may when it really did go bankrupt. I would like to see GM liquidated and have its plants and skilled labor bought up by new investors who want to build a resurgant American car industry, one that is dynamic and competitive and actually makes products people want to buy, like Hyundia is.
/rant
