So Will GM or Chrysler File For Chapter 11 Tomorrow?

[Edgewater_Joe]

How soon might we expect it now that the Southern Repunks have taken their best shot at killing industry in the US?

[Idealism]

1. Right before Christmas, most likely

Fucking dickheads, all of those rethugs

[Name removed]

2. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Idealism]

4. I wish you could articulate your arguments for not helping Detroit

Because I think you have some clear misconceptions

[Odin2005]

12. He's a Libertarian nutjob and Corporatism apologist n/t.

[Idealism]

13. I've noticed, by his responses to other threads

[Odin2005]

16. I'm wondering why Skinner hasn't Tombstoned him yet... n/t.

[Idealism]

17. Funny you should say that...

http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=233784

lol.

[Odin2005]

19. Good F-ing Riddance.

That nitwit can go crucify mankind upon crosses of gold elsewhere.

[ColbertWatcher]

3. 2010.

All we have is 2010.

I hope they're all up for re-election.

[MazeRat7]

5. They will have no choice....

That being said, it might actually work to everyones advantage in the long term.

Look at the UAL bankruptcy, I think that will be the model for either of these.

Peace,
MZr7

[Idealism]

7. No one will buy a car from a bankrupt company

Last few polls showed over 80% of people refusing to buy a car from a bankrupt company.

This is a lot differant than the airlines bankruptcy.

[1gobluedem]

8. Are you crazy? WHOSE advantage?

No one is going to buy a car from a bankrupt company; it's far FAR different than buying an airline ticket for God's sake. Cars are long term investments, they come with warranties. Who is going to take a chance on that from a company in bankruptcy? What if they go under and you can't get the car repaired?

It is SO not the same thing. Use your head.

[MazeRat7]

11. Well I've been accused of that, the whole being "crazy" thing...

But realistically, lets assume they could not restructure and emerge out of chapter 11. After the production plants shut down, and most dealerships no longer carried GM cars, there would still be an obligation to service cars of a certain "age". This would be yet another debt on the balance sheet that would most likely be handled by independents (dealerships) in each state.

Granted you have a point about nobody willing to buy a car from a company that is in chapter 11. However, I'm willing to bet there are plenty of loyalists out there that will make it their duty to support them. Especially if you put some flag pins on them and sell it as "America must look after its own"... etc. They will be lining up around the block to buy them.

Just my best (crazy) guess anyway. :crazy:

peace,
MZr7

[Idealism]

14. Respectfully I disagree

Warranties are paper documents that are worthless when the holding entity (the company) and the servicing sector (Car dealerships) go into bankruptcy.

[peacetalksforall]

10. Where are your from - purchase an airline flight - car ownership - like comparing a sequoia

to an apricot.

[OhioChick]

6. In LBN..."GM hires bankruptcy advisors"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3641829

[MidwestTransplant]

9. Hopefully they get TARP funds tomorrow to tide them over until O takes office.

The Republicans told Bush to go F himself so hopefully he will take it personally.

[spoony]

18. I can't believe I'm counting on Bush to do something right...

What a ridiculous situation!

[blue_onyx]

15. I could see it happening tomorrow

but I think they will file by next Friday at the latest.