I honestly can’t figure out why GM was saved and for whom. Let’s look at the record:
|Total revenue (millions)||207,349.0||135,592.0|
|Number of employees||280,000||202,000|
|Number of dealers||6,693||About 3,000|
The data are taken from the Fortune Global 500 info for the respective years except for 2007 dealers and 2011 dealers.
It wasn’t for shareholders or bondholders who took a bath. It wasn’t for the 80,000 GM employees that lost their jobs and the tens of thousand more employees of GM dealerships who lost theirs. By comparison Ford laid off about the same number of its employees over the same period as GM did without the drastic cutback in dealers. In 2010 there were more Ford dealers than GM dealers.