[jasonraymondson]

This guy is actually promoting that GM and the other auto companies file for chapter 11. Seriously, WTF What about all those companies that are owed, the unions, the pensions. The guy writing this article should be fired.

http://money.cnn.com/2008/10/14/news/co ... 2008101509

[Jotapay]

One of the many glaring problems these companies face is the enormous pension obligations that they owe. There will be no way that they can pay them as they are much smaller companies with much less revenue than they were in the past. Bankruptcy would take care of that, while screwing tons of working-class retirees.

[Spanktron9]

Jason-

I haven't read the article yet, but I have been of the opinion that chapter 11 is the only solution for GM and Ford for several years. No one wants their debt, so no one will buy them. No one can honor their healthcare commitments, so no one will buy them. Only after they come out of BK can the cleansed assets be purchased and ANY jobs be saved. Just my 2 cents.

[Fishman]

Apparently selling cars won't pay for "the unions, the pensions". I assume you'll pony up the money Jason?

[retiredguy]

No doubt the government (who else) will pickup the cost of the pensions. We already pay the pensions of Bethlehem Steel retirees, etc.

What is the name of the agency empowered to do this?

Picking up the pensions of the Big Three, however, will require gobs more Chinese money.

[jasonraymondson]

I just said, that I don't believe in filing for bankruptcy. I think that any company that does it, does not deserve to exist. If you can't run your business without running it into the ground like all of these fuckers you don't exist.

I am mad at the bankruptcy thing, because the government will end up stepping in and bailing them out with money they don't deserve.

[Denny]

$this->bbcode_second_pass_quote('Jotapay', 'O')ne of the many glaring problems these companies face is the enormous pension obligations that they owe. There will be no way that they can pay them as they are much smaller companies with much less revenue than they were in the past. Bankruptcy would take care of that, while screwing tons of working-class retirees.

[ubercrap]

$this->bbcode_second_pass_quote('jasonraymondson', 'T')his guy is actually promoting that GM and the other auto companies file for chapter 11. Seriously, WTF What about all those companies that are owed, the unions, the pensions. The guy writing this article should be fired.

http://money.cnn.com/2008/10/14/news/co ... 2008101509

[emersonbiggins]

$this->bbcode_second_pass_quote('jasonraymondson', '
')I am mad at the bankruptcy thing, because the government will end up stepping in and bailing them out with money they don't deserve.

[Revi]

To heck with them. We have new car companies. What do we need them for? You'll still be able to get parts from JC Whitney for a while.

They should have give the 25 billion to Zap, Aptera and Tesla.

They are the new big three.

[jasonraymondson]

$this->bbcode_second_pass_quote('ubercrap', '')$this->bbcode_second_pass_quote('jasonraymondson', 'T')his guy is actually promoting that GM and the other auto companies file for chapter 11. Seriously, WTF What about all those companies that are owed, the unions, the pensions. The guy writing this article should be fired.

http://money.cnn.com/2008/10/14/news/co ... 2008101509

[mos6507]

$this->bbcode_second_pass_quote('Revi', '
')They should have give the 25 billion to Zap, Aptera and Tesla.

They are the new big three.

[mos6507]

$this->bbcode_second_pass_quote('jasonraymondson', '
')Any CEO who files for bankruptcy should lose everything: Houses, cars, savings, and freedom. If you are criminally negligent, then you should pay the consequences.

[nobodypanic]

nationalize them. then get those factories to produce useful things.

[retiredguy]

Bankruptcy doesn't mean the Big Three would go out of business. The point the Fortune writer was trying to make is that by shedding debt, reducing operational footprint, etc. these companies would be better able to restructure themselves to compete in the new economy.

Just saying...

[gnm]

$this->bbcode_second_pass_quote('retiredguy', 'B')ankruptcy doesn't mean the Big Three would go out of business. The point the Fortune writer was trying to make is that by shedding debt, reducing operational footprint, etc. these companies would be better able to restructure themselves to compete in the new economy.

Just saying...

[Revi]

$this->bbcode_second_pass_quote('nobodypanic', 'n')ationalize them. then get those factories to produce useful things.

[nobodypanic]

$this->bbcode_second_pass_quote('Revi', '')$this->bbcode_second_pass_quote('nobodypanic', 'n')ationalize them. then get those factories to produce useful things.