... or even the best one, in many cases. Bankruptcy can be a great new beginning for the auto industry.
But better to let Jack Welch speak for himself:
GM: The Case Against a Bailout
...
Talk about a fresh start. For more than a decade, U.S. carmakers have chipped away incrementally at massive legacy costs. But reorganization would open the doors to meaningful structural change through the renegotiation of contracts with creditors, dealers, and unions. And it would offer better odds of paying back taxpayers.
Once in Chapter 11, a merger would further galvanize real change....
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