Auto bailout passes the House
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Auto bailout passes the House
| 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.

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How does Chapter 11 work?
Sopal
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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".
Sounds about right (Chapter 11 w/vehicle support guarantee's).
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
Cool.
Again, it's the Democrats' fault.
When did I say it was (whatever "It" is)
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.
Specifically, which Democrats are leery of Chapter 11 bankruptcy simply because of the unions?
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