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First recorded activity by BoatBanter: Nov 2008
Posts: 67
Default Solution for GM


"Tom Francis - SWSports" wrote in
message ...

2 - The companies, as they stand now, can't pay their creditors - what
makes anybody think they will repay the US taxpayer? As of 11 AM today
Ford has $160 billion in debt (with negative book value equity) and
GM has about $60 billion in debt (with a negative book value equity
of$56 billion). How is $50 billion more from the taxpayer going to
help?


Inciteful.

They will be back for more, and more, and more, and more... until forced to
change.

Seen this happen in Canada. Once on the dole, no motivation exists to fix
it.


 
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