Blog: GM revamp won't be fast or easy
Dave Leggett | 14 April 2009
It may be looking increasingly likely that General Motors is heading toward some kind of managed bankruptcy in the US, but the full implications of such a step are far from being quantified.
If the judgement is that Chapter 11 is more likely to get a better outcome for GM than negotiating with stakeholders outside of it, that does not mean that a whole lot of pain is suddenly avoided.
There would also be a big blow to investors' confidence generally as the shock waves of such a big bankruptcy reverberate around the world.
If there's to be a manipulation of the US bankruptcy codes in the cause of sustaining a viable US auto industry out of what has the potential to work in the long-term, it certainly won't be plain sailing.
I'm starting to get a small idea of the scale of things here in China, but really, I'm only scratching the surface of this vast country....
Given the startling complexity of obtaining a journalist visa for China - the code 'J2' is now indelibly stamped on my mind - it was with some surprise how swiftly I managed to sail through airport im...