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GM Bankruptcy Woes: GM Prepping for Bankruptcy and New Offer to Bondholders

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Filed under Automotive, GM, News

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No doubt that the majority agree that GM filing Bankruptcy would not be such a bad thing. Many support the idea that bankruptcy would “force” them into restructuring and emerging as a better and much more profitable company. Lately GM set into preparation to give a new offer to bondholders for a debt restructuring critical turn around that could be worse than the previous terms set by the automaker.

GM is actually preparing for bankruptcy as the outlook points more towards them doing such a thing. Restructuring alone is simply not good enough says the majority of tax payers who do not wish to bail them out mainly because of the poor decision making over several years of operation.

What will they do? It is possible GM will file and then eliminate several brands. Don’t worry, your GM car will still be covered under the current warranty terms and agreements if GM files for bankruptcy, even that part is backed by President Obama. What do you think GM should do at this point? File bankruptcy and restructure? Sell off a few brands? Eliminate a few brands? Build better cars? Close shop? Apologize to the customers? Build a bunch of Chevy Volts?

Tell us what you are thinking! Post your comments below!

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