GM Heading For Bankruptcy!

So far what we know is that The US Treasury Department has given notice to General Motors to get ready to file for bankruptcy by June 1. The only reason for them to make a statement like that is the funds are going to stop coming in. I think that The US Treasury Department has been reviewing GM’s books and feel that bankruptcy is the only way out for GM. But that’s not how GM feels, they insist they can restructure on their own. But of course GM would rather do this out of bankruptcy court because of their image of being a great company, which they are. They offered some of the highest paying job with the best healthcare benefits than any company, which hurt them in the end. I think for the most part the United Automobile Workers union killed the Auto Industry. They demanded so much for the workers the auto makers could no longer invest in producing better cars, greener cars. I once read that all the auto makers where spending more money on healthcare benefits than steal. Maybe they should file for bankruptcy to start with a clean slate and break all those dumb contracts with the really killers, the United Automobile Workers union.