The auto industry is too important to the USA security and economy to allow it to go through the normal channels of a chapter 11 reorganization. That would be a long, drawn out process with no guarantees about what might eventually emerge, if anything.
It's much better that the auto industry be reshaped with the fully faith and credit of the government. The American people are much more likely to continue to patronizing GM, knowing that the USA government has full faith in GM's eventual success, as well as a substantial investment at risk. Regards, LelandJ Michael Madigan wrote: > It's true. They just blew through a ton of money and still can't make things > work. Bankruptcy would have made all the labor agreements renegotiable > > > ************************************************* > Join the OBAMA RESISTANCE MOVEMENT! > > http://www.cafepress.com/rightwingmike/6181419 > > > --- On Mon, 3/30/09, Leland F. Jackson, CPA <[email protected]> wrote: > > >> From: Leland F. Jackson, CPA <[email protected]> >> Subject: Re: [OT] Wall St. tells the world they don't like GM overseeing >> To: "ProFox Email List" <[email protected]> >> Date: Monday, March 30, 2009, 3:06 PM >> I seriously doubt that. >> >> Regards, >> >> LelandJ >> >> >> Michael Madigan wrote: >> >>> All GM had to do is file bankruptcy and they would >>> >> have been better off right now. >> >>> ************************************************* >>> Join the OBAMA RESISTANCE MOVEMENT! >>> >>> http://www.cafepress.com/rightwingmike/6181419 >>> >>> >>> --- On Mon, 3/30/09, Stephen Russell <[email protected]> >>> >> wrote: >> >>> >>> >>>> From: Stephen Russell <[email protected]> >>>> Subject: [OT] Wall St. tells the world they don't >>>> >> like GM overseeing >> >>>> To: "ProFox Email List" <[email protected]> >>>> Date: Monday, March 30, 2009, 2:05 PM >>>> DOW is taking a plunge today probably >>>> as the slap in the face back at >>>> Washington. >>>> >>>> Sucks that both sides feel that they are in >>>> >> control of the >> >>>> situation. >>>> >>>> Both acting as a bunch of spoiled kids. >>>> >> Neither is >> >>>> right and only the >>>> consumers get hurt. IMO. >>>> >>>> -- >>>> Stephen Russell >>>> Sr. Production Systems Programmer >>>> Web and Windows Development >>>> Independent Contractor >>>> Memphis TN >>>> >>>> 901.246-0159 >>>> >>>> [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
