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And GM CEO is suggesting the handwriting is on the wall so is there any hope for a last ditch effort to avoid bankruptcy we welcome Sarah Webster she's automotive editor of the Detroit Free Press I -- Hi how are you very well you know we were just talking to Jean Jennings of automobile magazine she said.
Bondholders are toast -- General Motors it's probably gonna happen bankruptcy how did you -- it.
I think with every passing day were closer and closer to an actual bankruptcy.
I don't think that we're seeing things move on and a direction that could possibly avoid bankruptcy at that you know as we approach the -- for -- -- line.
Well sir I don't know if you could hear our last reporter but on the ground a lot -- dealers of course are are very concerned about their for their lives for their families.
Is -- bankruptcy actually speed up the process of restructuring -- GM or could it slow things down.
Well -- -- it's ideally it would speed it up but I mean I think that it there's a danger that it could slow things down because once you -- court you have.
People who connect Jack and they can there can be many hearings and motions and eight this system can cloud things up a bit and you know you could get -- it is a battle with your dealers and you know -- -- program.
And you might end up fighting with a lot of people instead of moving the company forward which is what they need to do and they do need to get rid of these dealers.
Even though will change -- of landscape across the country and he communities across America are gonna -- car dealerships and jobs.
And -- that's just the fact of life it's just tough -- it's amazing.
How quickly we've seen Chrysler and General Motors.
Act ever since the deadlines are put into place you just kinda wish they had run their businesses at a faster pace -- a -- -- Suddenly they're behaving like how normal companies are supposed to behave but it it just looks like it's too late you we have a guest -- the 2 PM who -- people fortunate.
It seems so harsh to me but but -- cool how does this all play out when when all of sudden -- who will be the biggest US auto maker.
Is it is it for murder or is -- a Japanese company ironically enough that has operations here in the United States.
-- General Motors is still the top seller and the country at this time but once they start getting rid of Pontiac and Hummer and -- you do wonder.
And how small they will become.
A Ford Motor Co.
as -- said before on your program is is doing a lot better.
But I don't think their goal is actually to be the biggest I think -- in their goal is to be profitable and you know I think in the past there's been this mindset you know that you have to be very large to be at a -- -- -- and you know maybe that's not.
How the game should really be played as toyotas learning even with their their losses -- Honda is almost better model it has become a better model of a company that.
You know really been strategic and smaller and more focused.
On and Toyota sort of adopted the American way really when they came to this country they got into the big trucks they have a full line.
But -- -- actually been performing in a way that I think is very admirable and in May -- and get some people some thoughts about maybe a different strategic direction.
Sarah Webster automotive editor Detroit -- but we haven't begun to talk about how all this is affecting Detroit which is devastated by it.
But you gotta come back and we'll talk about that in the next trip -- thank you very much.
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