Auto bailout passes the House

iVillage Member
Registered: 04-03-2003
Auto bailout passes the House
43
Wed, 12-10-2008 - 9:14pm

And with just a little bit of luck that'll be as far as it gets.


http://cnnwire.blogs.cnn.com/2008/12/10/house-passes-auto-bailout-bill-2/


As far as I'm concerned, if they need time and opportunity to restructure and regroup then they need to file Chapter 11.

Pages

iVillage Member
Registered: 11-05-2008
Wed, 12-10-2008 - 9:21pm

How does Chapter 11 work?

iVillage Member
Registered: 03-25-2007
Wed, 12-10-2008 - 9:31pm
I think Chapter 11 is the way to go BUT with a federal guarantee/warantee granted to anybody who purchases a vehicle from them while they are under Chapter 11.

Sopal

<?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" />

iVillage Member
Registered: 04-03-2003
Wed, 12-10-2008 - 9:41pm

Here's a good link on bankruptcy judges and courts and how they work.


http://www.uscourts.gov/journalistguide/bankruptcy.html


But yes, a federal judge/court would oversee the proceedings during the bankruptcy and reorganization, a responsibility the Bush Admin. and Congress want to give to a "Car Czar".

iVillage Member
Registered: 04-03-2003
Wed, 12-10-2008 - 9:48pm

Sounds about right (Chapter 11 w/vehicle support guarantee's).

iVillage Member
Registered: 04-02-2008
Wed, 12-10-2008 - 9:58pm

About 77 percent of billion-dollar companies survive bankruptcy, according to LoPucki’s database, while the others sell their business.


http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=adBazxCdli5Y


iVillage Member
Registered: 04-24-2008
Thu, 12-11-2008 - 6:29am

Cool.

iVillage Member
Registered: 04-24-2008
Thu, 12-11-2008 - 6:52am

Again, it's the Democrats' fault.

iVillage Member
Registered: 04-03-2003
Thu, 12-11-2008 - 7:16am

When did I say it was (whatever "It" is)

iVillage Member
Registered: 04-03-2003
Thu, 12-11-2008 - 7:23am

Those debts and the payments for them are set aside during the course of the reorganization, and are subject to renegotiation like their labor contracts.

iVillage Member
Registered: 04-24-2008
Thu, 12-11-2008 - 7:26am

Specifically, which Democrats are leery of Chapter 11 bankruptcy simply because of the unions?

Pages