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#3
Fri, February 27th, 2009, 05:05 PM
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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. 
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Bill Cohron - The Mad Doctor   Power Hungry Performance - The ORIGINAL in Ford performance tuning... Since 1997! (678) 890-1110 www.gopowerhungry.com - Home of the Hydra Chip, Minotaur Tuning Software, and the new Orion Reflash System for Navistar! Bring back  Windows™ XP and 7.  Windows™ Vista and Windows™ 8 is a pain in my a$$!  Windows™ 10 is only slightly less annoying!  Windows™ 11 is garbage!  Much to my surprise, I'm actually quite enjoying Linux! 
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