Is Toyota in a position to take it over?
Rumor has long been that Toyota will/may acquire the GM behemoth. That is unlikely to happen in any straight sort of business sense. Perhaps GM has two options for survival: a bailout by the Feds, which Leviathan likely couldn’t afford, or, an acquisition by a foreign company such as Toyota. But why would Toyota, with its masterful financial outlook and its vastly different culture, want to acquire an inefficient, union-laden abnormality with $300 billion in debt? It wouldn’t, unless of course, the acquisition was bankrolled by the US government, which would be far less costly than a total bailout. Bankruptcy is one way in which Big Guv could subsidize a merger/acquisition, but a dangerous move for an auto manufacturer that relies on brand loyalty.
