Question about looming auto company bankruptcies

[Coyote_Bandit]

Seems possible to me that if the auto companies file for bankruptcy protection that (1) union wage and benefit agreements may no longer be binding and (2) benefits being paid to retirees may be dischargeable.

Does anyone here know or has anyone here come across anything addressing this possibility?



Edit to clarify that what I really am asking is whether anyone has seen any print or media discussion of this.

[T Wolf]

1. That is EXACTLY why they want to force them into bankruptcy. Trash all negotiated union

contracts and give the execs bonuses. Standard operating procedure for the pukes.

Only contracts that will be honored are those for executives.

[Idealism]

2. Thats what would happen if they went in Ch11

But, because Banks won't lend to them, they will go into Chapter 7, which means total liquidation.

If it were just ch11, they would be ripping up UAW contracts and dumping legacy costs off to the PBGC (which is already in the hole for billions), but its looking more like Chapter 7 will occur becase banks refuse to give them enough DIP money to do their restructuring