Blog: Dave LeggettGM 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.

GM revamp won't be fast or easy


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