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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Taro who wrote (438105)	12/4/2008 12:15:51 PM
From: i-node	1 Recommendation Respond to of 1573817

Macy's went through 11 as far as I recall. A painful process back then, it looks pretty good to me these days. I cannot think of a time when Ch11 was more called for than with the current problems of the Big 3. It is precisely the situation it was designed for and it is the reason bankruptcy judges have such sweeping power to fix bad contracts. A bankruptcy judge can tell the unions, "Here's what you get. Like it or lump it." In effect, the bankruptcy judge can mitigate the power the unions have had all these years to coerce (via threat of strike) the automakers to accept lousy contracts. I think they'll do it straight away.