A Bitter Pill...

Via The Galloping Beaver: Chinese Companies Might Buy GM and Chrysler

If the speculation is correct, GM may well find itself owned by one of China's automakers - that's really going to upset the "buy American" crowd, but it might be one of the few practical outcomes for the Big 3 that would result in the kind of dramatic changes in the companies that I've talked about before.

On the other hand, I wouldn't want to be among the senior management of the acquired company. Cross-cultural management is difficult at the best of times, and when the company that has been bought is in need of dramatic overhaul, it's apt to turn into a messy situation for the workers.

If US lawmakers approve a bailout to prevent such a buyout from happening then they will actually be making an even bigger mistake than they did with the banking industry.