GM: Too Proud Or Stupid For Chapter 11?

General Motors finally is making some decent and competitive vehicles.

But it may be too late to keep the once mighty car-making colossus from crashing and burning because its modest turnaround has been on the backs of gas-guzzling SUVs and pickup trucks, a segment of the market that has all but collapsed, and it has very little in its inventory that can compete with the hottest segment -- high-mileage hybrids from Toyota.

Incidentally, Toyota's stock-market value now stands at $162 billion compared to just $6 billion for GM, whose shares sank to a 34-year- low last week.

Good grief!

Chapter 11 would seem to be a viable alternative, but with CEO Rick Wagoner sounding more like Richard Nixon by the day, don't hold your breath.