Quote:
Originally Posted by Chemical
I'm not quite clear on the regulations on Chapter 7 but Congress has been talking about an agreement that if in Chapter 11 the loan that GM recieves will help the reorganize.
I think most importantly the out dated contracts can be updated to save the comany billions.
the reason they cant last past this month is because of the legal requirements to pay union contracts and pensions I believe + of course opertion cost.
Everything seems to be on the way to working out but the cost will be most to the invester, especially if the government owns a piece of GM. The cost will be that anyone who owns GM stock will be diluted to... lets say for example 1/10 the value (maybe not as bad or maybe worse).
... but GM will stay above water so to speak.
I'd like to help out GM by purchasing a Camaro right now but I must graduate first, until then I hope GM can hold on.  |
Ah, OK, I missed them talking about that part. Well, if that happened, I would imagine the camaro (and everything else) way be put off for a while while everything goes through renegotiations. I hope somebody comes to a conclusion soon