In a free enterprise system companies that do not supply a quality product for a long period of time,or is mismanaged, usually go bankrupt and cease to exist.Is it time for GM to cease to exist?

It's past that time. They should have slowly changed from making cars to something else and moved into the 21st century. They still operate like it's 1965 and that's why they are going under.

Many companies during WWII went from making sewing machines to making machine guns. Some times you just have to make the transition. But when companies are run by fat cats who fleece the government and the people it will catch up to them.

I feel they conspired with the oil companies for so many years and held back developments in energy and technology. With the help of our government who had individuals in it prosper by this.

So now our economy has suffered and the environment has suffered from a few greedy men.

NO!
There are over 1,000.000 jobs tied to the auto industry, and it is not just the sulppiers either. It is the Rail road, Fed Ex, The Shipping yards at the docks and ports,The resturants, stores located by the plants not just the Big plants but the plants of the little shops that make the car parts. and that is not good at all.
Not only the dollars buy the Cutomers,
IT is also the taxes the come form the business as well that will be lost.

WE as a nation will not be able to surport all the NEw unempolyeed.

The sad answer is, probably. The auto companies that had swallowed up all their competition until there was only the Big Three probably would do well to be broken up and build from the beginning. Unfortunately this would be enough to probably cause another recession on its own.

Since the taxpayers are the primary share holders, at this time, it would be counter-productive. Time to revamp, find some good management, get the pay for all involved to reasonable levels, and turn it around.

I was going to say absolutely, but after considering Jim's response, I can't. The taxpayers, of course, should not have a stake in the company to begin with, but that not being the case...what an altogether awful situation. I still hope it fails, frankly. Galt's Gulch, make room for me!

Not while we taxpayers have a majority stake in it. Bad idea.