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sbsmoov · 12-12-2008, 09:30 AM

What's your opinion?

Do you support a bailout or do you think a restructuring via bankruptcy is the best way to go?

Here's mine--I think a well organized bankruptcy process is the way to go. Those profit killing UAW contracts need to be renegotiated so that GM can be competitive again--the current contracts can only be nullified via a bankruptcy process.Throwing money (15 billion+) at an inefficient company (like GM), which is already 62 billion+ in debt and burning money at an alarming rate is just flushing tax payer dollars down the crapper. It will just pay their bills for a few more months and then they will be back on Capitol Hill again asking for more--like a fat man at a buffet after eating his first plate.

12-12-2008, 09:30 AM	#1 (permalink)
sbsmoov Base Member Join Date: Nov 2008 Location: New York Posts: 54 Rep Power: 17	Bailout or Bankruptcy? What's your opinion? Do you support a bailout or do you think a restructuring via bankruptcy is the best way to go? Here's mine--I think a well organized bankruptcy process is the way to go. Those profit killing UAW contracts need to be renegotiated so that GM can be competitive again--the current contracts can only be nullified via a bankruptcy process.Throwing money (15 billion+) at an inefficient company (like GM), which is already 62 billion+ in debt and burning money at an alarming rate is just flushing tax payer dollars down the crapper. It will just pay their bills for a few more months and then they will be back on Capitol Hill again asking for more--like a fat man at a buffet after eating his first plate. Last edited by sbsmoov; 12-12-2008 at 09:33 AM.