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

To: Joe NYC who wrote (484129)	5/29/2009 12:09:22 PM
From: tejek	Read Replies (2) \| Respond to of 1574005

The only reason the union is getting anything is because they contributed to Obama campaign. That's a dictionary definition of political corruption. Of course this isn't true but it makes for a good sound byte much like Obama is taking this nation done the path of fascism. Just remember....."when fascism comes to the US, it will be wrapped in the flag and carrying a cross". In other words, it will be an R making the introduction.

To: Joe NYC who wrote (484129)	5/29/2009 12:30:50 PM
From: tejek	Read Replies (1) \| Respond to of 1574005

There is $2.5 billion in play. The senior creditors get that. Now some feel it isn't enough. But there are no other offers on the table. Why is that? As long as one dollar, or asset of value is transferred to an unsecured creditor, before secured creditors are paid in full, no amount short of full repaiment is enough. This is nonsense. If the BK judge deems it in the best interest of the company, it will do what's best for the company, not the secured creditors. That's one of the primary reasons for BK court. What's pathetic is your need to defend these enriched creditors who probably have some of the best corp. lawyers defending them.

To: Joe NYC who wrote (484129)	5/29/2009 1:43:30 PM
From: combjelly	Read Replies (2) \| Respond to of 1574005

"The secured creditors as a group own Chrysler assets." Correct. And a minority of those creditors feel the assets are under-valued. That being the case, they have the option of offering more and winding up with all the assets. They haven't done that. "As long as one dollar, or asset of value is transferred to an unsecured creditor, before secured creditors are paid in full, no amount short of full repaiment is enough." Well, a) that isn't happening and b) the bankruptcy judge decides what happens. Not the creditors. "Chrysler does not need unions to buy into anything." Well, unless they are looking to hire new, they will have to work with the unions if they want to continue operations. "The only reason the union is getting anything is because they contributed to Obama campaign" You are just making this up.