Do you work at GM, and did your branch office get a “letter” yesterday?

Ya know, I feel sorry for the employees who will lose their jobs. The little guys But GM did this to itself. Ditto for the other companies who lived high on the hog, mismanaged money, and were just plain greedy. AIG is another example. Though I know that a few were legit and playing by the book. The other part of that is, making all those gas guzzling cars that the average person could not afford, nor drive due to high gas prices.

I do feel bad for all the small businesses that are going away. I agree that GM has not always made the best decisions, but this last recession was more than just a blip. GM was in the middle of a massive turn around already. It was on the right track, then the credit markets froze at the wrong time. Ford lucked out by 6 months, getting credit before the freeze.

Toyota btw lost more this last quarter than GM and it did not have a line-up full of gas guzzlers. This recession is that bad.

@Barry Goldwater: GM had been turning around since 2003.

China auto industry — GM to buy more parts in China (2)

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