From the AP:

Less than two years after entering bankruptcy, General Motors will extend millions of dollars in bonuses to most of its 48,000 hourly workers as a reward for the company’s rapid turnaround after it was rescued by the government.

The payments, disclosed Monday in company documents, are similar to bonuses announced last week for white-collar employees. The bonuses to 76,000 American workers will probably total more than $400 million — an amount that suggests executives have increasing confidence in the automaker’s comeback.

It’s easy to be generous when the American tax payer is footing the bill.

(hat tip Gateway Pundit via Conurls)

According to Bloomberg, GM is speeding up plans for bankruptcy even as the board prepares another restructuring plan for Obama. GM is going to end up going into bankruptcy, because they still have the albatross around their neck called the UAW. The union has destroyed the American car industry and no amount of “restructuring” by the Obama administration is going to cure that.

The fastest way for the American auto industry to become profitable and competitive again is to get the hell away from unions. That’s never going to happen especially under this administration, therefore the auto companies are destined for bankruptcy.