On Mon, 30 Mar 2009 09:45:07 -0400, Eisboch wrote:


I keep repeating myself. Chapter 11 is the way to go. It would allow
renegotiation of *all* contracts including debt, suppliers and union
under the guidance of a federal bankruptcy court to ensure fairness.

It also appears that the White House is finally coming around to the
same conclusion.

Or, something to be considered, Obama just gave GM a pretty good
bargaining chip. If any of the co-parties were holding out for a better
deal with government money flowing, they just got a wake-up call. Deal
with GM now, in earnest, or deal with a bankruptcy Judge for X on the
dollar.