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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (13474)	11/19/2008 12:59:55 PM
From: ItsAllCyclical	4 Recommendations Read Replies (2) \| Respond to of 50466

Small details like Toyota having 1500 dealerships in the US and GM having 7000+ with both roughly at 20% of auto market. The GM dealerships that have contacts w/GM that can't be broken from what I've heard unless they going into BK (NPR yesterday). Just one example of why BK probably needs to happen for GM to be competitive again. It's not just the union contracts. I agree on the jobs, but again if there's waste the money is better spent elsewhere. Are car sales going to improve in the next few years? Probably not. They just be asking for more money a few years from now. Obviously not all the jobs will be lost in a BK situation.

To: SliderOnTheBlack who wrote (13474)	11/19/2008 1:20:16 PM
From: wildandwonderful	4 Recommendations Read Replies (1) \| Respond to of 50466

Rick Wagoner used to play Guard for Duke's BasketBall Team. As late as last month they kept saying they don't have liquidity problem. No body bought their story except their Board. Rick and others have most of their wealth tied up in GM stocks and Bonds and BK will wipe out the Common and the Unsecured's. If BK is filed Gettelfinger will be back in the streets and UAW will be a toast. We need a prepackaged BK with Feds providing the DIP is the only way I see out of this problem. Congress,UAW,Management are playing Russian Roulette except somebody forgot to tell them there are no empty chambers.