[clayfoushee]

What he is saying is he does not believe GM (or any of the other 2) could successfully reorganize under Chapter 11 and would be forced into Chapter 7 (liquidation). In this financial climate, what investment banking firm would step up with funding, as is the case in a typical Chapter 11 reorganization?

Morever, sales would likely dry up because not many would want to buy a vehicle from a firm in bankruptcy (who would honor a 5-year warranty on a Ford, a Chrysler, or a GM product if the company ceased operations?).

Chapter 11 has worked in the past for a number of industries, but not on this scale, not in this trainwreck of a financial environnment, and it's never been tried in the auto industry. People might purchase a plane ticket on a Chapter 11 airline, but I suspect this industry is vastly different.