The New York Times reports that General Motors continues to push through reforms necessary for it to survive:
General Motors told more than 1,100 dealers Friday that their franchises would not be renewed next year, bringing the total for the week to nearly 2,000 car dealers that learned they were no longer wanted.
The action, which involved only half of the showrooms that G.M. ultimately hopes to eliminate, was another step toward a probable bankruptcy filing at the end of this month.
Though G.M. says it still hopes to avoid bankruptcy and subsist on more government loans, Mark LaNeve, G.M.’s vice president for North American sales and marketing, acknowledged that the dealer cuts “would be hard to enforce” outside of court.
The government should not, of course, bail GM out. Let the company file for bankruptcy so it can rid itself of its weaker parts. If this path is pursued, GM will be stronger and more modern than it has been for decades.
Let it fall, let it fall. So it can rise again like a phoenix.
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