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Old 12-11-2012, 01:36 PM   #1
Join Date: Oct 2008
Posts: 53
Default GM going back into bankruptcty?????

Have read a few articles about the judge from GM's bankruptcy being upset with GM and how they did some "backroom" dealings during the process of going from "old GM" to "new GM". Funny thing is that this has not been in the mainstream media AT ALL. Wonder if Obama has anything to do with keeping it out of the news.......

danderson is offline   Reply With Quote
Old 12-12-2012, 08:44 AM   #2
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Thanks for the link - that was interesting.

Like the analysts who expressed their opinion in the report, I highly doubt the Judge will force GM back into bankruptcy but he's clearly angered by the way GM and their attorneys kept the issue of the payment to the Hedge Funds silent.

It's also interesting that GM's CFO is on record that the lawsuit may force GM to take a $918 Million charge. That's big money - even for GM.

I was never a fan on the "quick-rinse" bankruptcy concept for GM and Chrysler and in my opinion the report you posted shows another example of why it wasn't the correct course of action.
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