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GM failed
Topic Started: Jun 4 2009, 11:14 PM (88 Views)
Mephisto
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Why hasn't this had a topic yet?

Anyway, as you all probably know, GM filed for bankruptcy.

I wonder what's gonna happen with Transformers 3, if there ever is one? The autobots will be Hondas!
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Gwen
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I did not tell half of what I saw, for I knew I would not be believed.
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I made a topic a while back about the precursor, where they shut down almost all their dealers. I figured this was the inevitable next step.
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Mephisto
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Gwen
Jun 4 2009, 11:28 PM
I made a topic a while back about the precursor, where they shut down almost all their dealers. I figured this was the inevitable next step.
Wasn't that Chrysler?
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Gwen
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I did not tell half of what I saw, for I knew I would not be believed.
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Mephisto
Jun 4 2009, 11:29 PM
Gwen
Jun 4 2009, 11:28 PM
I made a topic a while back about the precursor, where they shut down almost all their dealers. I figured this was the inevitable next step.
Wasn't that Chrysler?
New topic!

"Gwen Failed"
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Virgil
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The whole reason they went into bankruptcy was because they need to restructure. Chapter 11 was meant to protect companies and individuals from their creditors while they're in bankruptcy. This allow them to make the changes they need without outside interference from their creditors. It's like how you need to break down a used soda can to make a new one. You can't break it down while someone is using it. They two auto companies went into bankruptcy because Obama wanted to change the way they do business and they can only make that changes as efficiently and quickly as possible if their bond holders and creditors can't have a say in how they restructure and that's due to Chapter 11. In fact, Chrysler had already came out of Chapter 11 Bankruptcy this week.

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Matto
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Transformers with Hondas would just be wrong. >.<
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Mephisto
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QuantumInteger
Jun 5 2009, 11:32 AM
The whole reason they went into bankruptcy was because they need to restructure. Chapter 11 was meant to protect companies and individuals from their creditors while they're in bankruptcy. This allow them to make the changes they need without outside interference from their creditors. It's like how you need to break down a used soda can to make a new one. You can't break it down while someone is using it. They two auto companies went into bankruptcy because Obama wanted to change the way they do business and they can only make that changes as efficiently and quickly as possible if their bond holders and creditors can't have a say in how they restructure and that's due to Chapter 11. In fact, Chrysler had already came out of Chapter 11 Bankruptcy this week.
I probably should have been more clear about Chapter 11. Thanks for posting that.
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