General Motors, like the other two geezers of the Old Three, is a vast retirement home with a small loss-making auto subsidiary. The UAW is the AARP in an Edsel: It has three times as many retirees and widows as “workers” (I use the term loosely). GM has 96,000 employees but provides health benefits to a million people.
All signs are the Big Three will fall. They may remain in business, but they will become something like novelty car makers.
What will come of all that car making capacity?
Why not turn auto manufacturing into a cottage industry? The resources will be sold at fire sale prices, there is plenty of cash on the sidelines to invest and design and innovate, there are billions of car customers in the world, we have a plethora of experienced automobile makers and engineers.