How about GM spinning off brands for cash?

[RB TexLa]

Personally I think congress is going to call their bluff on the bankruptcy they say will come before the end of the year. Going into bankruptcy would limit them too much if federal money comes latter.

Congress could hold out for a fire sale from GM of lines and a few plants to go with the lines. Having six or five auto companies would put the industry in a better position for the next recession.

[endarkenment]

1. Who exactly is going to buy these assets?

You are describing a liquidation of GM. How exactly does Congress conduct a 'fire sale' of some property that belongs to GM? Do they nationalize GM first and then sell the assets?

p.s. we have five or six auto companies, unfortunately Toyata, Honda etc. are foreign owned and operated.

[RB TexLa]

5. Force the fire sale, not conduct it.

[endarkenment]

9. Congress would first have to nationalize GM.

They cannot simply order GM to sell its assets. Either they buy GM or allow GM to fend for itself and go into bankruptcy.

Nobody is going to buy GM's capital equipment, at least not for quite some time. Your plan would be, even if you worked out the legalities, as you admit, a firesale liquidation that would result in massive layoffs - estimates in the range of 3,000,000 good jobs to start. It would kill the UAW. We would plummet into a major depression.

Other than that it is a fine idea.

[RB TexLa]

10. If the government said you must sell off X amount or percent of your assets to be considered for

government money they would.

[endarkenment]

11. This firesale of yours, no matter how you arrange it,

would result in a massive loss of good union jobs. I fail to see how this is any better than simply doing nothing. Nor do I think there is this purported lack of competition that you believe would be remedied by a forced liquidation of GM's assets.

I have an idea: have the government take over the health care obligations for the auto industry.

[FSogol]

2. They should spin off Hummer first.

:eyes:

[onehandle]

4. Let the bidding start!

So how much does scrap metal go for per ton anyway?

[Cary]

3. I heard a better one last night.

Reduce our nuclear missile arsenal to about 1,000 warheads, leaving us with only the ability to destroy the earth 3 or 4 times over. That will free up close to $30 billion a year.

The "Star Wars" crap that never worked could free up another $13 billion.

[NOW tense]

6. Who is going to buy Buick?

Congratulations your retired now buy your maroon Buick.......

[RB TexLa]

7. Buick does well in China. GM's business model does not have to be primarily North American

They could sell off North American assets and focus more outside North America.

[sam sarrha]

8. it would put them in a better position to be free of the dominating corporate incompetence

there is a company in CA making 350 MPG cars that are BEAUTIFUL.. another company is making 65 mpg SUV's .. ford is selling a BEAUTIFUL 65mpg car in the EU BUT not here..!!

it's time for CHANGE