GM is hoping that its various strategic plans will either keep them out of bankruptcy though being able to obtain cost reductions, wage concessions, etc., or if not they will file sometime soon.
It could not be soon enough, please stop the torture. Everyone is waiting; customers who want to buy cars, dealers who want to know if they are cut, suppliers, creditors and we taxpayers funding them.
The most ridiculous plans are to close 2,600 of their dealers, out of their total of 6,246 dealers in their network among the various brands.
As we can recall, GM was the biggest auto manufacturer for a reason, it had more dealers than others, it could have a representative sales office just about anyplace you were located. You could walk into a showroom or have your car serviced close to your home.
Their thinking was that if they had less dealers, the individual dealerships would be more profitable. I don't get it? Is that not why we can now play them off against each other to get the best deal on a new car?
So now GM is adopting the GM (Government Motors) mentality-"you get what we got, if you do not want it where else are you going to go!" Nice business model.
Less competition, and therefore less choices.
They actually think this will work.
I am not a stock picker, but shrinking to profitabilty has always been a policy that rarely works.
Six General Motors executives disclosed Monday they sold almost $315,000 in stock and liquidated their remaining direct holdings in the struggling automaker.
In filings with U.S. securities regulators, the GM insiders led by former GM Vice Chairman and product chief Bob Lutz detailed stock sales on their behalf Friday and Monday during a trading window for such transactions.
Lutz, who is now an adviser to the automaker, sold $130,989 worth of GM stock at the closing price of $1.61 Friday.
That sale of the 81,360 shares cleared out all of Lutz's direct holdings of GM stock, according to his filing with the Securities and Exchange Commission.
The five other executives, including Lutz's successor, Thomas Stephens, GM North America President Troy Clarke, Chief Information Officer Ralph Szygenda and manufacturing chief Gary Cowger and head of European operations Carl-Peter Forster also sold all of their GM stock holdings, according to the filings.
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GM [GM 1.19 
The automaker's stock could be either worthless in a bankruptcy or worth less than 2 cents per share if it proceeds with its plans to issue shares to creditors led by the U.S. Treasury, the company has said.
Insider trading restrictions have prevented GM's senior executives from selling stock holdings for most of this year as the automaker has scrambled to restructure under the oversight of the Obama administration's autos task force.
But after the filing of its quarterly report with the SEC last week, GM executive officers and directors were notified a "trading window" had opened Friday, spokeswoman Julie Gibson said.
The trading window remained open Monday and could be open for Tuesday as well, she added.
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