GM and the "B" word?
 

GM speculates on filing for bankrupcy protection. What's next? Who's next?

Lars

I dunno...That may be something .gov is pushing to help reorganize and lower costs??

All bankruptcy means to a corporation like GM (or Delta...) is that they can keep the assets liquid while their vendors and other accounts get the shaft on payments... At least for a while. Then they can reorganize and hopefully improve their structure and get back to a profitable course of business.

What really bothers me is that they can file bankruptcy while retaining their assets, meanwhile the average person or small business that files bankruptcy must liquidate and surrender all assets (house, car, stocks, saving) to cover any outstanding debts. Not that I advocate bankruptcy; I believe you make your bed and you lie in it. I just really disagree with the double standard and once again, big business get to circumvent the rules.

:(

Look at Donald Trump perfect example!!!

Lars

:censored1:

One recent exception is circut city, they filed and the courts gave them x days to find investors to cover the outstanding debt. They couldn't, so they were forced to liquidate and close their doors. Not to say the executives probably maid out like bandits, but not all corperations get by with bankruptcy.

Lars

By the way, Sunday march 8th is the final day for all Circuit City stores... Might be worth stopping by a local one to see any bargins left to have

I raided every Circuit City I came across and got tons of goodies for nothin'. I felt like a kid in a candy store!

Glad you had fun shopping!

The other thing is Donald Trump also wrote a book about his bankruptcy and made money.

Just a note I haven't been seeing as many gm commercials lately on nascar races. Mostly Ford and Toyota.

Lars