It was only a matter of time until this took place. The company was saved by Billions of taxpayer dollars so a foriegn company could ship the jobs to China. Somehow, it must be Bush's or Romney's fault. Many many companies go belly-up. It does not necessarily mean the company will go out of business. Many emege from bankruptcy stronger than ever. What happened in the auto bailout was the saving of Union jobs. That's why it took place, so the unions would not have to make as many concessions as they would have if the company went bankrupt.
As JS pointed out, many stockholders and bondholders where left with nothing. Under bankruptcy, they may have got a least something. The big boys were out of these stocks and bonds liong before. The little guys got hurt bad. Many employees and retired workers had mioney in the stock and bonds.
Many foreign companies that have plants in the US, like Hyundai and Toyota, have the plants in non-union Southern states. I think it is cheaper for a Japanese company to build a car in the USA rather than Japan, as long as it's not a union shop. The Korean companies, I don't know about. I do know several people that own Hyundais and they all said they would never buy another one.
