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

To: rolatzi who wrote (13509)	11/20/2008 9:05:06 AM
From: Travis_Bickle	1 Recommendation Respond to of 50526

They aren't terribly good bluffers, probably why they are in this fix to begin with.

To: rolatzi who wrote (13509)	11/20/2008 9:15:44 AM
From: bearjones	1 Recommendation Respond to of 50526

That may be true regarding the chapter 7 statement, but from what I heard GM, via Wagner wont even utter the word bankruptcy openly. Again, Chapter 7 is not the answer or solution and does not need to happen. And it should not happen. That has to be a scare tactic and propaganda. To: bearjones who wrote (13508) 11/20/2008 9:03:45 AM From: rolatzi Read Replies (1) of 13511 It seems that the automakers stated to Congress that they are planning on Chapter 7 liquidation, not Chapter 11 reorganization and that they had no plans for Chapter 11. I presume this is a ploy to try and extract money out of the federal government. Chapter 7 would most certainly destroy the domestic (Michigan based) auto industry as well as much of the supply network. There is no way that Congress would allow that to happen but such a possibility it being priced into the stock market. IMHO, Chapter 11 is the only future action that makes sense for GM, Ford and Chrysler and ongoing bailouts by the Federal government will do nothing to make these companies more competitive. Rolatzi