Detroit’s slow-mo meltdown has been rife with tipping points for years now. As bad decisions piled upon bad luck, we’ve seen the signs become increasingly ominous. The light at the end of the tunnel has become so faint now that each new misstep comes hard on the heels of the previous one, each taking on ever more existential significance. Perhaps though, we have reached a new low in the news coming out of GM today, as Automotive News [sub] reports that GM will delay incentive payments of $302.4m to its dealers for two weeks. If this decision was made based on GM’s liquidity crisis, it means that GM can’t come up with $300m until December 11: A stuffed stocking of not good. On the other hand, if it’s another twisted ploy to generate political support for a bailout, it’s some inspired stuff. Based on the letter (after the jump) sent by GM VP of Marketing Mark LaNeve, it’s looking like a little of both. After all, blackmail has always been a crime of desperation.

We need not review the litany of bad news to remind you the Motown’s money’s too tight to mention. But amidst all of the plant closings, layoffs and rumors of bankruptcy, one song remains the same: management perks. The Detroit News reports that even as executives descend on DC begging for bailout billions, Ford, GM and Chrysler refuse to eliminate programs which subsidize car leases for management, often with insurance, maintenance and gasoline included. And this isn’t going over well with workers. “We’re taking concessions,” says UAW worker Jim Willington of Ford’s Woodhaven Stamping Plant. “They should level the playing field. They ought to be willing to buy the products. They can afford it.” A little perspective after the jump..