It is a bittersweet situation. One the one hand it would be great if GM could restructure to cut costs and debt and become the lean mean machine that we all know it can be. On the other hand, I hate to see the good people that work on the production lines (folks like the Mole) loose their hard earned benefits, endure reductions in salary, and in several cases be forced to retire with a cheesy severence package. I am quite sure that the vast majority of the folks that loose their job in a bankruptcy will not be in a position to kick back and retire.
If GM can come through this without ruining the lives of the people who have worked for the company for multiple decades, then more power to them. I just dont see that happening.
All that being said, bankruptcy is inevitible. Thousands and thousands of people had better be looking for alternate employment because they will be loosing their jobs in the near future.
It makes worrying about when our Camaros will finally get here seem pretty materialistic and I am just as guilty of this as everyone else. :(