Bona Fide
Other than "why do you hate America"...
After reading several news stories from various sources, here's what it boils down to:
With Bailout: GM uses the money to restructure to become leaner and focus on fuel efficiency and profitability. They get $34B to do whatever they want with, like continuing to fuel the cash burn that's costing them some $2B/month.
Without Bailout: GM files Ch.11, and restructures to become leaner and focus on fuel efficiency and profitability. They also go to court and dissolve existing labor contracts (no more UAW shit), AND they don't get another $34 billion out of our pockets.
After reading several news stories from various sources, here's what it boils down to:
With Bailout: GM uses the money to restructure to become leaner and focus on fuel efficiency and profitability. They get $34B to do whatever they want with, like continuing to fuel the cash burn that's costing them some $2B/month.
Without Bailout: GM files Ch.11, and restructures to become leaner and focus on fuel efficiency and profitability. They also go to court and dissolve existing labor contracts (no more UAW shit), AND they don't get another $34 billion out of our pockets.