"I think GM will 1) eat Chrysler, 2) go through Chapter 11, shedding the UAW, a bunch of plants, most of its brands, a bunch of dealers, and most of its obligations to retirees, and then 3) emerge with a huge structural advantage vs Ford, at which point Ford will need to make some interesting decisions of its own.
I think what GM is doing right now is making a good show of assuring its various parasitical constituencies (see #2 above) that it is Doing All It Can to stave off its trip to bankruptcy court, in the interest of holding on to some residual loyalty by way of making all those folks feel like they were participants in an unavoidable tragedy rather than just screwed."
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