In a story on Bloomberg just now, people close to the matter have said that President Obama has determined a pre-packaged bankruptcy is the best way for GM to restructure. No better news for Chrysler i am afraid, with Obama prepared to let it go bankrupt and be sold off.
Thats what we like to see, tough love!! I think it is a promising sign we have an administration that is willing to do something other than throw money hand over fist at a lost cause.
