November 18, 2008
– Comments (1)
... so shut up and just start bailing! http://gmfactsandfiction.com/
To me it looks like nice spin put out by GM so that the taxpayer bails them out and the top management can continue to collect their huge paychecks and bonuses without having to try to fix GM's problems.
Also, they always talk as if the options are bailout or liquidation, without ever letting the bankruptcy reorganization option surface in their discussions. I wonder why that is? Could it be because under bankruptcy reorganization the upper management could be forced to give back their huge past bonuses and potentially take large salary cuts? Maybe that is why they always say that "bankruptcy is not an option".