Ball point pen on the morning newsprint

The US Senate is attempting to pass a bill giving 25 billion dollars in emergency aid to the US auto makers. Leaders say they might not have the votes, but if they did, would it help? GM is loosing 2 billion dollars a month and has 16 billion left before they could no longer meet their obligations and goes out of business. Even if GM could retool and start producing smaller, more fuel efficient cars in the small window the law makers are hoping to give them, they still have to deal with a prolonged downturn in the economy combined with nearly half a million former workers drawing pensions and health benefits. Cost cutting plant closings and layoffs only seem to magnify GM's problems, creating a greater percentage of those drawing a GM check and benefits while not contributing to producing a product. That business model has made it impossible for GM to compete in the global auto making industry.

GM stock price is 2.98 a share at this writing. When Richard Wagoner Jr. took the helm of General Motors in May of 2003, GM's stock price was 35.50.

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