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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (3607)	12/23/2008 9:42:42 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: [severing dealer franchise contracts] "I agree, that could be a sticky whicket." Exactly. Only a bankruptcy court would have the legal authority to tear-up and re-draw contracts. If the companies had to BUY OUT their dealer networks it could take hundreds of billions of dollars to do so (obviously money that they do not have. :-) Similar situation with the billions they are obligated for in pensions.... There are just some things that only a bankruptcy court can do --- if you tried to 'bang heads together' outside of the bankruptcy court, hoping to get the various parties to VOLUNTARILY do things that are not in their own direct financial interests, you will be arguing until Hell freezes over... or, until their is nothing left of the domestic auto industry.