"I wanna be like Ford feeling." GM is creating it's own emergency again.

Remember all the cash GM was bank rolling to insure against any future market collapse?  For some reason the CEO can't seem to leave it alone.

By Philipp Halstrick and Laurence Frost

FRANKFURT/PARIS

Wed Feb 29, 2012 7:36am EST

(Reuters) - French car maker PSA Peugeot Citroen's (PEUP.PA) alliance talks with General Motors (GM.N) may yet fail as the U.S. automaker hesitates over criticism from investors, a source with knowledge of the discussions said.

Intense public scrutiny is also undermining the draft deal, in which GM would take a small Peugeot stake as part of a 1 billion euro ($1.34 billion) share issue by the cash-strapped French automaker, the source said, adding: "This is not a done deal yet."

Peugeot has yet to offer any public statement, more than 18 hours after France's AMF market watchdog demanded a response to press reports on the discussions that sent its shares yo-yoing. GM has also declined to comment.

The Detroit-based automaker is not completely convinced by the draft deal on the table, the source said.

GM shares have dropped 4.4 percent since the alliance plan was first reported by a French newspaper on February 21, while Peugeot's have advanced 6.6 percent....

GM will be competing against its own products with this investment.  Where are the unions when you need them?  GM will fail again.  This was its downfall before!  Those bonuses must be amazingly attractive, but, alas the price of GM stocks fall again.