| Re: The facts! -- daugface8 | |||||
| Posted by RichAndPretty , Tue, Nov 18, 2008, 16:27:15 | Post Reply | Top of Thread | Reviews by RichAndPretty | First Amendment Message Board | Main BigDoggie.net site |
Chapter 11 does NOT cause them to "cease to operate". In FACT, all it does is allows them to RESTRUCTURE so they can operate more efficiently in the future.
Government should bail them out, but it should be AFTER they file for Chapter 11, and government should then become a PREFERRED creditor.
RAP
PS: That said, I was AMAZED that GM has 239,000 employees, but 775,000 retirees (and their spouses) who rely on them for pensions and benefits. No wonder they are in trouble, and a loan doesn't seem like it will address that issue .... BEEP BEEP.
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