It looks like many are starting to see the light – GM: Some Bondholders Want Bankruptcy . Not so much the “light” that bankruptcy for some of the major automakers in Detroit was a given – and has been for some time – but that it is going to take bankruptcy to really get a viable business going there once again.
Interesting, now that the president and all are talking bankruptcy, people accept it and think it is “smart.” Back a few months ago, when just some of us were seeing the same light, from a distance, we were called “right-wing radicals.”
Take a look at some of my other posts, including the interesting conversations with Scott Monty, the public communications director for Ford Motor Company. The point of those posts was not just that it needed to be done (for GM and Chrysler at least) but that they all – especially Ford – had a great opportunity to gain the collaboration of the public if they could just lower their pride barrier and talk with people (like they did with us on TCOT). I believe the table is still set for that, but time is lapsing.
In the meantime, the more liberal “thinkers'” of our time seem satisfied just to accept the inevitable and – probably – think that they were the first to recognize it. Such is life. But it is not the stuff real progress and change are made of.