It is one thing to request a taxpayer bailout, but quite another to blatantly announce that the Board has decided that it can not function without a bailout and that bankruptcy is not an option.
If you don't have the money to continue operations, your only solution is to go out of business or to file bankruptcy and re-organize under chapter 11 and hope that someone will then lend you the money to stay in business under the terms that they will accept.
You screwed up in your greed and failure to adjust to the changing world environment, General Motors. Take your lumps and hope that the retired and still employed workers don't sue you after your go back on all the benefits you will now have to rescind.
P.S.- sell some of those corporate jets and travel coach with your fellow Americans then maybe next time you will know what they want in an automobile.
Joe
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