I, like so many people who have been following General Motors fortunes for some time, am wondering what the companys long term plan of action is in the face of historic losses, plant closings, and unrelenting and widening competition. No, I am not talking about GMs global operations, rather I am talking about the North American fortunes of the worlds largest automaker. Quite frankly, the North American market is currently unprofitable for the company while GM holds its own, even thrives, in many markets beyond our borders. The following are some suggestions to help The General not only get back on its feet again, but to halt the bleeding in North America.
File For Bankruptcy — It is time to play hardball with recalcitrant unions and government authorities who dont understand that GM is playing on an uneven field. Toyota, Honda, Nissan, and Hyundai all build cars in the U.S. None of them are saddled by huge legacy costs, i.e. health and pension benefits, local tax burdens, etc. Yes, GM negotiated their contracts in good faith, however the market has changed tremendously over the past several decades and is wholly unfavorable to the way GM has been doing...
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