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Originally Posted by gtahvit
Now, I don't dispute the relationships you maintain. Everyone wants to siphon off some leverage/contol/profitability here. And I tend to agree that letting GM go bankrupt last year was the better choice IMO. I didn't feel that way then but I do know. My personal contention now is that if GM went through Chap 11 whithout fed loans. They could get out of the union choke hold and start over. Maybe even move to right to work states where they don't have to have unions....
FWIW.
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Bingo. Nobody wanted them to file last year when they first asked for loans saying that is all they needed to keep going. 6-7 months later and here they are filing for Chap 11.
It would of lasted a little longer probably without government help but the company would of been FAR stronger and would of been keeping the profits itself.
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I used to work for Kmart back in the day. They filed for bankruptcy in 2002 and are still around after 7 years...even despite the always present juggernaut that is Wal-Mart.
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True. How many stores closed then? How many NEW stores have opened since they filed?