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

To: DuckTapeSunroof who wrote (11980)	4/29/2009 8:59:34 AM
From: HPilot	Read Replies (1) \| Respond to of 103300

If they don't get 100% agreement to the debt restructuring offer from the secured lenders (essentially a faster planned bankruptcy without a bankruptcy court) then they WILL BE in bankruptcy court real fast... where pretty much the exact same things will happen. They would not give the company over to the Unions. They are giving shares of stock to the unions, the courts would never do that, not after all appeals are made. In fact it is a controlling interest. The deal calls for the union to take a 55 percent stake in Chrysler to cover half of the company’s $10 billion obligation for retiree health care. Another $4.6 billion in cash will be contributed to the trust in installments over the next 15 years. I am sure the union is very unhappy that they will now be calling the shots at Chysler.