I wrote in 2009
Megan McArdle articulates some of what I have been hearing about GM.
Namely, that now that we know GM is toast we should stop bailing them out and head for Chapter 11 bankruptcy. After all why throw good money after bad?
There may be good reasons for supporting bankruptcy for GM but this is not one of them. First and foremost, we ARE going to throw good money after bad. There is no way around this. The first bailout was throwing good money after bad.
. . . the question is not should GM go bankrupt but should GM go bankrupt – now.
Today from the WSJ
GM, the largest U.S. vehicle seller, said its sales rose to 168,670 cars and light trucks in November from 150,676 a year ago.
Among the four continuing GM brands, Buick and GMC sales climbed 36% and 30%, respectively. Sales at the larger Chevrolet jumped 18% and rose 21% at Cadillac.