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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Neeka who wrote (284084)12/13/2008 12:48:42 AM
From: Nadine Carroll  Read Replies (2) | Respond to of 794040
 

For the life of me I do not understand why chapter 11 reorganization isn't an option?

It has worked well for thousands of companies.

Because they don't have enough cash to keep running, and they can't get credit in this credit crunch. They depend on their supplies sending them parts on credit, and the suppliers won't do that if they are in backruptcy. So they need a bridge loan, which they are trying to turn into a bailout.


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