The analysis will also show that the coterie of Presidential advisors involved in the making of a momentous decision leading to bankruptcy, had no true industry expertise among them, but were instead acting in the best interest of certain elements of Wall Street in collaboration with the Chinese financial sector. Former GM Chair Rick Wagoner and the company's leadership overall believed up until the moment President Obama called at 9pm EST Sunday, 31 May 2009, that they would not be forced into bankruptcy. Moreover, they had been advised by their Capitol Hill based people that "bankruptcy was off the table".
As of now, GM has lain the groundwork wherein its US workforce rolls. both administratively and in manufacturing, will be pared to an absolute minimum, an assertion all but confirmed by CEO Dan Akerson's recent -and rather ironic- comments in the Detroit News likening GM corporate culture to that of "The Communist Party in China in the 1960's", while comparing the historically provable vastness of the "GM Empire" to the former "British Empire". Thus implying the sun had set on both as justification for his actions.
What will become clear is that GM's "sleeping with the Dragon" may well prove to be its undoing... From the 12/20/11 analysis - Myron D. Stokes