GM, the largest company in the world, filed for bankruptcy relief this week. The government gave GM another 20 billion to usher it into a "prepackaged" bankruptcy and to give it enough cash to operate while it remains in bankruptcy. The administration confirmed that the bankruptcy was needed so that GM could be reborn as a leaner, more competitive, and profitable business enterprise. In bankruptcy, GM is expected to raise cash by selling major assets, cut down and restructure debts, void contracts, shed hundreds of dealerships, reduce union and employee benefits, restructure ownership, and reduce brand names and product lines. GM is the maker of Chevy, Cadillac, Saturn, Hummer cars and trucks and has been the flag bearer of American business in the last century. It is a sad day for all Americans that this icon of American business acumen has knocked on the door of bankruptcy court this week but the fact is, without bankruptcy protection and reorganization, GM would have collapsed after the 20 billion new infusion of government funds was used up. The cash infusion would have permitted GM to continue operating for another sixty days. Thereafter, without new funds or bankruptcy court protection, GM would not be able to pay its legal obligations. Banks, suppliers and other creditors could no longer be paid.