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Rob
05-12-2009, 11:04 AM
In the event of GM's bankruptcy, which group would be the biggest loser?

First Robin
05-12-2009, 11:42 AM
In the event of GM's bankruptcy, which group would be the biggest loser?

Since the taxpayers are also creditors there is only one answer to this question. All of the others will also be hurt but the creditors have the most at stake.

Lola's Mom
05-12-2009, 01:06 PM
Ford's trying to free up more cash .... hmmmm .... maybe they're looking for a step-child?? :squint:

First Robin
05-12-2009, 01:51 PM
Who gets paid first, the original stock holders,creditors or taxpayers if they go under?

standby-V
05-12-2009, 06:18 PM
I woul say all of the above but that wasn't a choice.

Jetboy
05-12-2009, 10:46 PM
Since the current administration decided they could act as the Judicial and Executive branches and change the rules of BK for the Chrysler BK it has to be the creditors that take the biggest hit. Good luck on decent loan rates and terms in the future Corporate America.

Little Woman
05-13-2009, 08:39 AM
It's not a question of if they file bankruptcy, its a matter of when. I don't think there is any plan GM can come up with to satisfy the government. Going off the deal they came up with for the Chrysler BK, I believe the creditors are the ones to lose. :pat:

Cadillac Tech
05-13-2009, 02:10 PM
I woul say all of the above but that wasn't a choice.


I'm with Bobo on this one. It's a matter of how much are we all going to be hurt.

Bruce :patriot:

Cunard One
05-13-2009, 10:51 PM
The government threw the lifeline in order to keep things going and keep the union alive. If GM had BK'd without taking the bailout $$ then they could have dumped the unions and started fresh. Union wages are still a problem.
The feds have their tentacles in the business and will keep the unions and even reward them.
The Chrysler bailout will reward the union with 6billion and a 55% ownership of the new company. Taxpayers put in something like 14billion in and will see Zero.
This is just more government control of our companies. Just wish they would get control of fuel pricing. ;) Just my .02

CO

Little Woman
05-14-2009, 01:43 PM
My dad spent his life as a UAW worker for Ford Motor Company and I must say thank God he is not here to see the automotive industry go down the way it is. :(