Ok. Let's agree that neither one of has a time machine nor a crystal ball. That means my assessment & yours is really our "guess" at what GM would have looked post-restructure. With that said, perhaps we can agree that GM would have shrank considerly, with fewer brands. Is that okay? If so, are we not also saying many many jobs go up in smoke? My guess is you have seen a restructure or two & so have I. That's devastation considering the size of GM and all of the tertiary vendors etc. Again, you are using a business perspective (mentioned in the original post) & I think its like judging a movie like The Matrix with a Citizen Kane yardstick. See it for what it was... a bailout!