GMC Bankrupt why? (Facebook cut paste)

There is a big question on a lot of peoples minds i am sure. "why did GMC just claim chapter 11 bankruptcy?" I mean they just got Billions from the government.

There is a plethera of reasons why GM failed as a company. Ill highlight just a few. I wont hide it from you. I think that they should have been allowed to fail back in August of 08. It seems heartless to say that a company that employs thousands of Americans should be allowed to fail. Not from my perspective. I understand that if the car industry where to fail and come to a complete stop there would be about 1 in 10 americans negetively affected by it. Rough numbers is about 60 million people. Would it be right though for the other 540 million americans should have to take on the responsibility of the 60 million? no.
We all understand as we enter the job market that there are going to be ups and downs, and with that we may have to find another job, move, change careers, retire early, and all the other risks that are involved with living a life. We all assume those risks. GM and other car dealers tried in (if i am correct) 1976 during the last big car strike to change that for their employees. a jobs bank was created. GM was forced by the union to create a system where you would never loose your job if you worked for GM. So if the factory closed down, and GM cant find you another job within 50 miles of the origanal factory doing the same job; its all ok just dont come into work and still get a check. I've been told that 880 million of the money given to GM was given to this jobs bank. 880million dollars going to people who arent working.
The idea of a union is 3 fold. Better wages, better working conditions, and better benefits. They have done great with car manufactures. In the early 70's the average employee of GM was getting $80,000 a year in pay and benefits. An MBA fresh out of school working for a bank like Wells Fargo received somewhere around $30,000 a year. Now of course those numbers have changed and have only gone up and more for the union worker than the MBA.
Another fun trivia question. How much money per car made does GM spend on health care for employees? $3,000 a car. Do you honestly think that any forgien car manufacturer does that? no.
Lastly, bad business cannot ever be solved by more money. All more money does is prolong the inevitable.
Now we can all understand why you cant buy GM stock on anymore and the stock was removed from the market today. No more GMC on the dow jones industrial. You cant be a car manufacture and have most of your income be through financing. You cant expect a company to ever be "too big too fail." Its a foolish idea. in capitolism the market never fails, people fail.