How do you feel about the GM situation? Should they just go into bankruptcy and work from there, or should we as a nation keep attempting to prop them up in hopes of them eventually turning a profit again? Or maybe you are just tired of hearing about the giant car company period. Personally, I don't blame you if that is the case.
I just wanted to take some time out to point out something interesting. It is part of the underlying problem with GM in today's car industry, which is now more global than ever from a competitive standpoint. Yes, globalization is definitely the best and worst thing to happen to the auto industry. I think we all know who has gotten the shorter end of the stick in this international affair.
For example, let's consider a new car introduced by none other than Hyundai. The 2009 Hyundai Genesis is a car that competes with the BMW 5 Series, Mercedes E Class, and Lexus GS among others. It is said to be easily mistaken for a higher end luxury sedan on the street, able to beat a Viper off the line, and has very high crash ratings. But that's not all folks... this car is priced in the $30,000 range. It is foreign vehicles such as these that are a major contributing factor to the doom and gloom of American auto makers.
Many of these foreign companies don't offer the type of extraordinary employee benefits that GM handed out in droves and paid the price for, quite literally at that. In addition, they don't deal nearly as much, if at all with unionized work forces like American companies do. Foreign companies also have been ahead of the current in low mileage vehicles and even the ongoing development of "green" vehicles.
So what's my point? Well I believe that it may be necessary for GM to be allowed to bankrupt, even if this means a few aches and pains for our economy.