GM Bankruptcy Not So Bad

This is the first somewhat upbeat story I've read on the future of GM and Chrysler, which most people seem to think are doomed no matter what. This story is from Fortune mag:

Up until a few months ago, bankruptcy for the corporate giant was nearly unthinkable. Former CEO Rick Wagoner all but refused to utter the word, so convinced was he that it would be fatal to customers' confidence in GM's brands.

Now, maybe, it doesn't look so bad. GM (GM, Fortune 500) is still selling cars and trucks, despite all the bad news associated with the company. And Chrysler is on the verge of exiting from its bankruptcy in record time. Already, we are told, the new guys from Fiat are getting ready to make over the company and blitz consumers with new and improved Italian-American products. Perhaps bankruptcy is a good thing.

But let's pause for a minute and think about what a post-bankruptcy GM will actually look like. You must read the rest