Quote:
Originally Posted by Jamo
Naw Clay, you're full of sh!t. 
It's all to gain the support from the UAW and their fellow travelers for the bailout since BK is the route to breaking the brain-stem sucking union contracts.
BK would indeed work. Ford would likely avoid it, Chrysler deserves it and GM might be cut up into more reasonably-sized operations. Even 7 might be beneficial by allowing competitors and other n'er-do-wells an opportunity to come in and buy some chunks.
As I and others have said previously, we don't need no stinkin British Leyland on these shores.
This "sky is falling" BS is getting old. A few years ago, the BKs and mergers in the airline industry raised fears of not having an American flag carrier. Nobody seemed to give a good golly damn about the steel workers when LTV and the others started falling away.
There are many rules and theories which apply to capitalism, but the most basic one is this: sh!t happens. |
Like I said above, "what he is saying is. . . ." (not what I'm saying)
I have serious doubts that an 11 BK would work at GM, but I've been around long enough to know anything is possible, and no one can accurately predict the consequences of anything--not even you. The real question is how many other companies would fall in the aftermath, and are we willing to take the pain. It's a bit like "playing chicken."
