General Motors Bankruptcy

Hard to tell, at the moment, but my personal bet is that General Motors is going to declare bankruptcy.

TARP aid? You must also realize something... when they say the autos might get TARP aid, they mean they might get it after Obama comes into power. Cause there isn't much money left in TARP currently.

Anyhow, at this point in time, it has come to the stage where it DOESN'T MATTER whether they get bailed out or not. And I think that some people realize this.

GMAC is pretty much dead, and without GMAC, GM can barely make sales. GMAC has always provided inventory funding to the tune of 80% of all new GM vehicles.

GM is going to cut production in the first quarter of 2009 by an additional 30%.

GM has stated that it is over-represented at the dealership level and needs to cut back around 2,000 dealers

It's pretty obvious at this point that GM is basically a failing business, and all their talk of a turnaround is rather far fetched.

They think that declaring bankruptcy will not endear them to car buyers? ... Do they think that taking taxpayer money to cover their own mistakes will make people fall in love with their cars???

Anyhow... this is looking more and more like a big huge delaying tactic... pass the buck onto the new administration, wait for GM to fall apart... BTW, by 5pm GMT we will watch as GMAC's attempt to become a bank fails. At which point, extending a loan to GM will be pointless. Truly truly pointless. Because it will become UNABLE TO SELL CARS, as there will be NO FINANCING.