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Politics : View from the Center and Left

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To: Cogito who wrote (94703)	11/7/2008 9:23:21 PM
From: Lane3	Read Replies (1) of 541477

Allen, I expect that US manufacturers would produce more or less the same number of cars post bankruptcy. There might be some period of uncertainty and some gap in orders for the dependent companies what would undo some of them and it would be a rough ride. But most would survive. The reason I think that is because it's hard to imagine the US not producing cars and because the companies have products that they or someone else could sell. The benefit of bankruptcy is that it enables the court to eliminate liabilities. There's no other way to get rid of them. They could reduce the massive burden of their classic employee benefit packages, for example. I don't know all that much about bankruptcy but I do know that there are a variety of chapters with different implications. Sometimes bankruptcy ends up as little more than a reorganization. So it seems to me that bankruptcy should be an option on the table with the costs and benefits worked out just like any other option. Maybe it wouldn't work out better, but maybe it would. Edit: I just remembered an old post that addresses the topic. Message 25120402

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