There has been the concern that what will happen if the American 3 go bankrupt. Well I think this is where the government can then step in and help. What I mean is if all 3 file for chapter 11 bankruptcy then the government can step in and set up a program to back ALL warranteys and new parts for X number of yrs. That will then give the consumer confidence to continue buying their cars. Second it will allow them to reorganize at the governments discretion. When I found out that current union employees get 80% of their salary after they are let go that put me over the edge. The entire corporate structure of the US auto companies has to be rethought. What may have worked in the 1920's through the 1980's now no longer works.I now believe the US companies have the technology and ability to build cars just as good as their foreign competition but are strangled due to their selling their souls everytime they renegotiate a union contract. It is better to have auto workers employed making less money and having less benefits then having companies shut down and 3 million people out of work. Chapter 11 will cause people to lose their jobs but it certainly seems the lessor of 2 evils now.If GM can't wait for the Obama administration to take office so be it. If it is able to hold on then perhaps a bailout will work with many many strings attached to it. Restructuring has to be one of those strings.The pay scale and benfits must equal what Toyota and the rest of the foreign competition pay their employees.I also think the idea of a US auto company zsar to oversee the restructuring business plan of all three is necessary. It will then be the governments job to make sure people can get loans to buy cars.