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A New Reality for GM, and Its Shareholders

By Jim Cramer

 About this article:
 Is my analysis of GM extreme? Yes. Do I want GM to file bankruptcy? No. Is it the most rational thing for them to do? Yes. The problems with GM are so myriad that it is difficult for the company to solve things without some sort of wholesale breakage with the past. I was disappointed, severely disappointed, with how the unions held up these guys, which then made the automaker less competitive vs. the Japanese. I believe that GM has made remarkable strides to bring down costs per car and truck, but the problem now is that it has the wrong cars and trucks because of gasoline's rising costs. Until that happened and the unions held them up, I thought that GM was making the turn. Now the issue is not the prospects for the common shares, it is the prospects for the company; and...

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