The carmakers

If a company is 30 days from being unable to pay its bills, as GM says it is, the discussion should be about how to end it, how to liquidate, who gets assigned to turn off the lights. The party's over. The end is near. Hoping an angel will appear who will save the company is fantasy.

With only 30 days left, management has waited too long. All the nonessential assets that are salable should already have been sold, especially the corporate jets and the headquarters building. The home office should be like a ghost-town. It should be possible to fire a shotgun through the office and not hit anyone.

With only 30 days left, remaining employees should be shredding documents, auctioning off office equipment. Bankruptcy lawyers should occupy the remaining desks and chairs. The liquidation plan should focus on salvaging as much as can be salvaged for shareholders, if anything can be salvaged.

With only 30 days left, the rats should be deserting the sinking ship. The company has no future and employees know it, and they know they have no future with the company. Resumes will be polished. Job interviews will be arranged. Next month, employees will be collecting unemployment.

GM is either in this situation or its CEO is lying to Congress. Either way, he needs to be canned.