Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: TimF who wrote (482827)	5/22/2009 3:54:55 PM
From: tejek	Read Replies (3) \| Respond to of 1573092

I don't play that game. Any link I'd provide you could claim was from a winger web site, and even if it was from a left of center site, you'd claim the author was the winger. The truth of the argument isn't determined by the political ideology of the person making it. If I decided to provide additional links, I won't limit myself to ones that you approve of. Sorry. Then we don't have a basis for communication. My experience has been that winger sites lie. They distort the truth and they don't rely on facts. That's not the world I live in.

To: TimF who wrote (482827)	5/22/2009 7:06:29 PM
From: tejek	Read Replies (3) \| Respond to of 1573092

Uh......you left this part of the article out of your post......the part where the senior creditors were getting piggy at the trough. Once again, I ask you......why do you defend these people? What is striking to many in financial circles is how much Chrysler’s reluctant creditors gambled for what is, in the scheme of this bankruptcy, a relatively small amount of money. After weeks of increasingly rancorous negotiations, Perella Weinberg and 17 other financial firms — including OppenheimerFunds and Stairway Capital, a hedge fund that specializes in troubled companies — rejected the administration’s plan. It was, they argued, simply unfair. These investors together hold about $1 billion of Chrysler’s secured debt. The Treasury offered to pay all of Chrysler’s senior lenders $2.25 billion in cash if they forgave most of the company’s debts. Perella Weinberg and the others demanded more, arguing they would receive at least that much, and possibly more, under ordinary bankruptcy proceedings."

To: TimF who wrote (482827)	5/23/2009 2:17:32 PM
From: combjelly	Respond to of 1573092

"The thinking was that in the worst case, these assets could be sold at a profit if Chrysler were liquidated." However, that isn't the case. If Chrysler's assets were worth more than the $2 billion offered, why has no one stepped forward to buy it for more? There are no other offers. None. The money in question is not all that much, there are individuals who could swing a bit more than $2 billion. And would if the assets were, in fact, worth significantly more than the $2 billion in question.