General Motors is out of cash. The so called experts who could not even smell the financial meltdown are claiming liquidation is inevitable for the giant automaker. The domino is waiting to cascade its effects in terms of millions of jobs to be swamped away. While the warehouses will become the haunted places for the ghosts of the subprime, the torching of the blast furnaces will probably end. The green guys will hardly find places to stack up their rebel green flags.
Michael Mooray in 1989 had made a documentary Roger & Me which had depicted the aftershocks of the plant closures by GM in Flint , Michigan. The move to close the several plants out there had 30k jobcuts and that is enough a blow to devastate the city economically. Mooray had a reason to grin as GM was making good profits then. After 2 decades the whole Detroit is waiting for the Flint stunt.
A government bailout is believed to provide wheels to the automaker amidst fears of creating a hue and cry as people bitten or unbitten by subprime will queue up for share of the pie.
While GM will be probably sailed through the turbulence ,I am anxious to find what happens to my chevy after GM’s death.
