Message #2727

[wbcoleman]

... General Motors isn't all about motor vehicles, that autos are only a small fraction of its business.

Very true!  It's core business is supporting retired GM employees.  GM is a vast, all expenses paid, retirement home with a small branch that manufactures automobiles.

The whole point of O's "rescue" was to transfer corporate assets into a trust for the benefit of these retirees.  I wonder what will happen to them in the event of a second bankruptcy.