The deed must be done. GM, in order to survive, has to make some drastic changes and while what they announce today will be painfull to many, it's a short term fix for the bigger problems.
When they get serious about taking on the existing structure and remaking it then the market will know they are commited and will respond much more. We all know what they need to do and let's hope they do it. As bad as it looks and is, they have to change.