The least surprising business news of the day

Take it away, WSJ:

General Motors Corp., nearing a federally imposed deadline to present a restructuring plan, will offer the government two costly alternatives: commit billions more in bailout money to fund the company's operations, or provide financial backing as part of a bankruptcy filing, said people familiar with GM's thinking.

(Hat tip to Business Insider.)

As co-contributor Jim Manzi pointed out at the time, GM barely pretended to have a viable business plan in connection with the initial bailout talks late last year.  And those who remain convinced that GM has already taken the steps it needs to return to viability (such as Jonathan Cohn) should read this Fortune piece by Alex Taylor, who has covered the auto industry for over 30 years and, by his own admission, fallen for GM's promises of turnaround far too often over that span.

As with many aspects of the election season, the best summary of GM's business plan was presented by SNL. For some reason, it has not been posted on Hulu, but the crack staff of the Atlantic has spared no expense (in the form of Google searches) to bring you this example of cutting-edge business journalism.  (The key excerpt is from about 2:15-3:20.)

<embed src="http://v.wordpress.com/LbA1OFar" type="application/x-shockwave-flash" width="400" height="300" allowscriptaccess="always" allowfullscreen="true"></embed>

Presented by

Dr. Manhattan

Dr. Manhattan is the pseudonym of a lawyer in New York City who represents, among others, clients in the investment management industry. He started blogging in early 2002, when the entire NYC-based blogosphere could gather in one room (which they often did). In between his frequent retirements, he blogged about politics, baseball, Israel and autism (especially vaccine-related matters) at blissfulknowledge.com. With the regulatory system up for grabs, for this project he has decided to try the novel approach of blogging about matters which bear some relationship to the topics that come up in his day job (within the strict limits of professional obligations, of course). In case anyone was wondering, none of his opinions expressed on this blog are necessarily those of his clients, employer or colleagues.

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well. Bestselling author Mark Bittman teaches James Hamblin the recipe that everyone is Googling.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well.

Video

Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.

Video

The Health Benefits of Going Outside

People spend too much time indoors. One solution: ecotherapy.

Video

Where High Tech Meets the 1950s

Why did Green Bank, West Virginia, ban wireless signals? For science.

Video

Yes, Quidditch Is Real

How J.K. Rowling's magical sport spread from Hogwarts to college campuses

Video

Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

More in Business

Just In