Friday, February 20, 2009

GM & Crysler’s Attempts At Bullying

Bankruptcy Could Be More Costly

Businesses filing for bankruptcy need loans to work out their troubles, or face liquidation. But General Motors and its smaller rival, Chrysler, have threatened that they will need $125 billion, in what would be the largest bankruptcy financing packages ever, if they do not receive the additional federal aid they are requesting. G.M. alone has said that it needs $100 billion to finance its bankruptcy. To many, that figure seems far too high, and may be a negotiating tactic to keep the companies out of bankruptcy. Several bankruptcy experts doubted that G.M. would need to draw upon anywhere near that amount to get court protection from creditors.

Posted by 51ck-6-51x @ 02:25 PM (683 views)
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4 thoughts on “GM & Crysler’s Attempts At Bullying

  • Brinkmanship played by serious players.

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  • japanese uncle says:

    The only conclusion from this sorry event is, we should never allow any businesses or banks indeed to grow too big to be allowed to go under. Otherwise the whole economy of a nation should be taken hostage quite like this. Lloyds Banking Group or RBS or HSBC must be broken into much smaller entities never to repeat this turmoil.

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  • 2. japanese uncle

    Quiet the opposite is happening.
    I think it is called centralisation. Too big to fail. Too big to save!

    Hostage indeed. White collar terrorism, maybe.

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  • Crysler needs bank lons its good buta its bad.

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