Bloomberg: Reports that GM could go bankrupt. This would be the best move for General Motors, it could rip up the bad contracts with the Unions and get out from under its debt. The Unions have been slow, the contracts held by the Unions are from the 1970s! The benefits are like something out of Cuba, one problem the USA is a Capitalist Country. Thus the Obama Administration should not give any more money to GM, it should allow the company to go bankrupt, then perhaps the USA will have Car Industry for the 21 Century.
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