Apr 13, 2009 -
Prepare Plan B
Sometimes you make the turn at the bottom of the hill, sometimes you don't. That's why those runaway truck ramps are nice to have ready in advance.
With the 60 day deadline for getting GM back on course coming closer every day, planning for less than the best outcome is a wise idea.
The bondholders and UAW seem to be saying, "Not me, you go first" when it comes to coming up with needed concessions and sacrifices, so he Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline.
Seems as though we are on the verge of witnessing the birth of a new GM. Hopefully a leaner and meaner company that can grow.
Read more in the NY Times article
