D-Day for Detroit

GM and Chrysler must submit their viability plans to Congress today. It is going to be a tough day for them, because negotiations between GM and the UAW broke down over the weekend. Personally, I am convinced that a bankruptcy is inevitable and that a reorganization is a necessity. They will live again, but only if they cut the apron strings to Washington and begin the needed steps of freeing themselves from the ties that bind them to the mistakes of the past.