An Internet hub with domestic and international news, analysis, original reporting, and popular features from the left, center, indies, centrists, moderates, and right
GM Bankruptcy Probable
Posted by PATRICK EDABURN, Assistant Editor in At TMV, Economy, Politics.
May 29th, 2009 | 3 responses
May 29th, 2009 | 3 responses
It now looks like GM is heading down the bankruptcy path, probably as soon as next week.
A deal with bondholders may have made things a little easier but will not prevent the filing for a reorganization. Word is that the government will be the major owner of the new company.
So we have seen one company sold to the unions and one to the government.
It will be quite interesting to see the ultimate impact of this.
3 Responses to “GM Bankruptcy Probable”
Hell, skip the middle part where treasury secretary's buddies get richer. Just fire everyone above foreman. No severance, no health insurance, no retirment. just a brochure about where the better homeless shelters are and how to apply for food stamps.
Then give GM to Toyota. No payment, no loan, just clear title to any assets that they can find.
Buy Ford.
main frame. Hey good luck with that censorship. Seems to work really shitty.