I assume the validity of
this is legit, someone has put a hell of a lot work into it. The blog does have
link to all the underlying data.
If this is even close to be correct, then its really beyond hope, without major restructuring. Let GM and the others go tits up. The shockwaves will be horrendous. The shareholders will lose so will their creditors and union contracts would be renegotiated. Everyone loses, for a while. However, if it stays the same, throwing a ton of cash at them just to keep the afloat is not fixing anything. And they'll end up right back in the same place it is now.
Both labor and managment are crying that because the banks are getting bailed out, the auto industry should as well. There's a difference. A huge one. The days of easy credit are over. Bankers are never going that route again. Can the Big Three also make the same claims that they are reformed?