[BC] IBUZ opinion from an outsider

[PeterH5322@aol.com]

>It is also possible that the Delphi proceeding may be a dry
>run for GM itself, protests and denials to the contrary.

Definitely.

Within three to five years, both GM and Ford will seek reorganization 
under bankruptcy.

GM has been stripping itself of valuable subsidiaries, and when (not if, 
at this point) it enters bankruptcy, it probably will have few assets 
other than money losing ones.

Elimination of entire plants, and tens of thousands of jobs, is a 
certainty.

I see many existing plants being closed, only to reopen in "right to 
work" states, much as foreign auto manufacturers have sited their new 
plants in such states.

These plants will be highly automated, as the foreign manufacturers' 
plants are, and will employ very few traditional "work to rule" workers.

It is possible that GM will eventually emerge from bankruptcy as a 
subsidiary of Toyota, and Ford will emerge from bankruptcy as a 
subsidiary of Honda.