Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (45156)	11/19/2008 7:35:03 PM
From: koan	Respond to of 149317

Nigel, that is exactly how I see it. >> >>Chapter 11 is a better option.<< As I've said before, government money and Chapter 11 aren't mutually exclusive. There needs to be a big restructuring. Current management is going to have to be purged. Pensions and healthcare deals will have to be renegotiated downwards, severely. It may well be necessary to shut down Chrysler. But without intervention, all that is going to happen is a compete shutdown, and a firesale of the assets. That is in no one's interest. The immediate problem is that GM may not survive until the next administration is sworn in. None of this is much fun. I'm no great fan of either Detroit, or massive government intervention, but I recognise that doing nothing is going to end up costing rather more than a few tens of billions.<,