Hate to see this happen because of all the people who will lose pentions/benefits and the current ones who will lose jobs. Not a good thing for our economy right now. But on the other hand GM has dug their own graves with sh**tty products and bad decisions in the last 30 years. Case in point... I remember when Ford was bashed by consumers/ media for allowing Chevy to out shine them in the early - mid 90's in the performance department Mustang vs Camaro. While ford decided to downgrade ( from the 5.0L) and introduce the smaller 4.6 sohc " mod" motors, GM wanted to stay with the all popular, faster 5.7. Ford of course more interested in selling cars then going for the quick buck/ gimmick. A lot of it from fords end had to due with emissions/ fuel economy and wanting to keep the mustang profitable , being able to sell to all types of buyers. Well the end result for GM
http://findarticles.com/p/articles/mi_qn4182/is_20010926/ai_n10148436/Not to mention those suckers were a bitch to work on and have warranty work done.
This is not of course all of the reason GM is screwed , but it shows a contrast in the decision making of both companies. The SUV boom is another one.
In the mean time the ford mustang remained one of the top selling cars from ford while the faster camaro folded.
If GM wants to come back they need to think more like Ford motor company.