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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (484129)5/29/2009 1:43:30 PM
From: combjelly  Read Replies (2) of 1574006
 
"The secured creditors as a group own Chrysler assets."

Correct. And a minority of those creditors feel the assets are under-valued. That being the case, they have the option of offering more and winding up with all the assets. They haven't done 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."

Well, a) that isn't happening and b) the bankruptcy judge decides what happens. Not the creditors.

"Chrysler does not need unions to buy into anything."

Well, unless they are looking to hire new, they will have to work with the unions if they want to continue operations.

"The only reason the union is getting anything is because they contributed to Obama campaign"

You are just making this up.
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