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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (35551)5/18/2009 9:10:52 AM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: "not at keeping the organization viable"

You are arguing over PERCEPTION.

However, from a LEGAL point-of-view, the priority goal is to craft a VIABLE BUSINESS (so as to MAXIMIZE it's enterprise value.) So I would argue that your perception is incorrect.....

A dead Chrysler might be worth two cents or so on the dollar (for repaying it's obligations...), whereas a restructured business, shorn of two thirds of it's debt over-hang and operating with a more competitive cost structure, might create value for generations.... (ultimately making debt swapped for equity worth something).
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