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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (483986)	5/28/2009 11:30:14 PM
From: Joe NYC	Read Replies (3) of 1574054

"Offer for what? They already "own" the assets." No single entity does. Where did I say "single entity" own the assets? The secured creditors as a group own Chrysler assets. There is $2.5 billion in play. The senior creditors get that. Now some feel it isn't enough. But there are no other offers on the table. Why is that? As long as one dollar, or asset of value is transferred to an unsecured creditor, before secured creditors are paid in full, no amount short of full repaiment is enough. None of that was done. The assets weren't stolen, they are in BK proceedings. And Obama isn't rewarding anyone. The new Chrysler is just trying to get the unions to buy into the success of the new company. Chrysler does not need unions to buy into anything. Their contract is null and void, they are laid off. New, hourly employees (or old ones) can be rehired at market rates. The only reason the union is getting anything is because they contributed to Obama campaign. That's a dictionary definition of political corruption. Joe

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