The tick and the dead

The best lessons I have learned in my short 41 years have come from getting up off the floor after getting knocked on my butt from failure. I've learned a few things watching other people fall on the floor in abject failure - then I help them up but not until they realize they failed.
The big 2 and a half need to fail. They have to burn so they can re-write their contracts and rework their loans. Executive compensation needs to be redone and markets need to be re-evaluated for profitability and viability. This can't be done if the government bails them out. What I don't understand is why the CEOs don't know this and welcome the cleansing fire of Chapter 11? They should be ecstatic over a chance to rise from the ashes like a phoenix. It worked well for United, AirTran, US Air, Continental, and many others. Yes, they will lose market share. Yes, dealerships will go under. Yes, they will have cash flow problems. Yes, everything will not be perfect but nothing is after you come out of ICU. There will be a recovery period. There will be pain, suffering, arguing, and talk of what to do next - but it is better than sacrificing your soul to the government bureaucrats. Just imagine the Big 3 being run like the US Postal Service and you have the future of the US auto industry. Sad, sad, sad.