"Eisboch" wrote in message
...

Barney Frank's bill limits the ability to truly reorganize the auto
companies. It's simply throwing money into the same sink hole. Six-eight
months from now they'll be back, needing more survival money.

Lets hope a dumb assed bill like this dies on the floor.

The auto industry's contracts and historical ways of doing business need a
complete overhauling in order to be a viable, competitive entity in
today's global markets. Chapter 11 reorganization, prepackaged with a
government bridge loan to keep the beast breathing during the process,
makes sense to me.

Eisboch

That is as far as I would go. Maybe management is worried that once the
government sees the books the SEC will roll in?

To me, chapter 11 seems the valid route. So what if it lands in chapter 7
at a later time. GM isn't exactly that critical in the big picture. In
fact, say GM does die outright. The Detroit buyers will shift their
purchases to Ford and Chrysler keeping more of their people working. So
what if GM makes more cars, what are they going to do? Store them on the
Whitehouse lawn? They are not selling!

Maybe seantors own too much JCI, GM or Cerberus? Best explanation I have.

Over 1,000,000 people lost their jobs in the last few months, very few were
actually auto workers. What makes these ******s so special and the rest can
go to hell? Who is bailing out the majority?

------
New USSR - United States Socialist Republic - Loans on the government for
free and the land of Government Motors.