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

To: GROUND ZERO™ who wrote (4106)	12/30/2008 6:39:25 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 103300

"They should go bust like any other poorly managed business..." Problem is the DEALERS (being franchise operations...) have binding long-term CONTRACTS with the auto makers. For which they paid a lot of money. (Face value of all those franchise agreements is probably around $100 Billion or so.... They have a much larger claim than any union does on the autos....) Which is exactly WHY I have argued that only a chapter 11 bankruptcy filing by the auto companies can shed them of ENOUGH DEBT (bonds, stock, long-term dealer contracts, pension obligations, union contracts, vendor contracts, etc.) so that they will be VIABLE businesses.