Farago takes a stab at hootin' 'n' hollerin' for a GM bankruptcy to save the American auto industry, noting that in its latest SEC filing, Ford noted "adverse effects from the bankruptcy or insolvency of a major competitor" as a threat to their bottom line. Why? Because a massive bankruptcy filing, much like the stroke that felled Lenin leading to Stalin's ignominious reign, would leave Ford as the main game in town, sinking under the pressures of heavy union contracts, possibly pulling the Blue Oval down with it. And who will lead the people then? Why it just might be a smaller, leaner GM. Hope y'all got a mofo of a Five Year Plan, Fords.
General Motors Death Watch 60: Bankruptcy is Good for the Soul [The Truth About Cars]