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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (45008)8/19/2010 6:57:02 PM
From: TimF  Read Replies (1) of 71588
 
and they have SLASHED the massive debt load that used to over-hand their operations

Entirely a function of bankruptcy. No bailout needed for that point. In fact their future obligations are probably higher with the bailout (and the resulting conditions including more favorable treatment of the unions than would otherwise have been the case), than it would have been without the bailout.

And its not just "not doing well", its not being able to show well how their doing (because their accounts are so messed up), and in some ways doing worse (the pension obligation hole got rapidly and massively deeper)
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