It's official, GM has filed BK and to many this is no surprise. It's a day many said would come. It wasn't so much a matter of if, as it was when. I want to take a minute to look at what GM was, where they are, and what they may become.

Remembering-

My fans know I am a third generation gearhead, and GM has been a big part of my family. My grandpa raced them and fixed them. My dad managed the company that shipped them from the factories in SF Bay Area. I have restored them, raced them and written about them. Heck, I remember my dad saying he would kick me out of the house if I ever brought home a ford!

Present-

Yes, "The General" has been known well by mine and many other families in this country. But it doesn't stop there, GM has made an impact on the global market as well. Buick is the top selling make in China, owning almost 23% total market share. Holden, GM's counterpart in Australia, has made the top selling sedan there (the Commodore) for the past ten years. Then there is Opel in Europe, a familiar name I see whenever I'm over overseas.

This is a company that has greatly helped mold the auto industry as we know it today. Many import fans may look down on this day, but then again, Toyota wouldn't even be what they are without their strong ties with GM. These two now giants have partnered on projects from as far back as the eighties. GM learned from Toyota, Toyota learned from GM's mistakes. The student is now the teacher in this relationship.

Yes, this is a hard day for those close to, and in the auto community. But is it all bad? No, their is a silver lining to this storm. This bankruptcy is a restructure, not a liquidation. That means a future for this company does exist. Will they be stronger, bigger, better? Maybe not, but they will be leaner, smarter and more efficient. That's what happens in times like these to companies like GM. Poor management and lack of true market demand coupled with a crumbling economy is part to blame. Now they have a second chance to do it right, and lose the mentality of yester-years auto industry.

Future-

GM will be required to be efficient. Forget the fact that the government could have bought the company three-times over with the "bailout" money! Yes, the company was worth 15billion and the government threw over 45 billion at them. Much of it went to the outstanding bank debt GM carried. This was a methodical way for the government to prevent a domino effect for the companies tied to them financially.

This will free them from debt leftover from year's past. Pensions for people that worked the line twenty years ago. Do I blame the unions? No answer. I do know that the rules that apply to GM didn't apply to Toyota because of the union and that hurt us. Matter of fact, that hurt each of "the big three". Note: I only single out Toyota because their goal has been to knock GM from top position as the global giant for years now.

I see much potential on the horizon for this company. Trim down the models, stop offering the same car with different badges under different monikers. We all know a Tahoe is a Yukon and a Blazer. Exploit the cars that people love rather it be the Malibu, or the excellent valued G8. Learn from Toyota, the company that learned so much from you. Doing some, or all of these things can help GM be the successful company I remember from years ago.

Tomorrow's a new day, Lance