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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (249104)7/9/2003 7:14:16 PM
From: reaper  Read Replies (2) of 436258
 
BK has nothing to do with employee base, per se. just kills equity holders and haircuts debt holders. there is no inherent reason why one plant would have to close if GM went BK; in fact, given the sunk costs, remaining debt holders would actually like to see all the plants stay open.

anyway, as i said, its not a matter of letting or not letting. GM (and F) is dead man walking; it is just a matter of time.

Cheers
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