GM declared bankruptcy today. I called the death of the auto industry four years early.
We will see how GM bounces back. I'm not sure it does very strongly. If GM can really shed most of its legacy issues, than it might have a chance to actually come back from here. I think the road is long and hard from there though. There are some people who still feel pride in buying American cars but I think that is mostly the generation before me and not my generation or the generation that is following me. Most people my age and younger are do not care where products are made. They just want high quality products for not much money.
So do I think that four years from now, GM will be profitable and a leader once again? I doubt it. Perhaps they can start turning a profit but can they compete with the Hondas, Toyotas, or BMW's of the world? I just don't see it.