Quote:
Originally Posted by Gatorubet
Sandgk, while I share lots of your concerns, I know of no way absent the use of a Chapter 11 to break the contractual relationships that are choking the Big 3. Absent bankruptcy, I do not see how your have the flexability to do what has to be done (read: cancel what needs to be cancelled) without spending the next ten years in court being sued and fighting injunctions for doing what they need to do to survive.
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I have many of the same concerns that Sandgk has. While I would love to see the Big 3 all fail, use Chapter 11 and restructure to become stronger and without alot of the inheirant debt associated with the past. The problem is while those albatrosses are shed new ones come forward. The first one I can think of is in this current credit crunch how could a company coming out of Chapter 11 get ANY credit would be a huge burden by going through that process.