Posts Tagged ‘chapter 11’

GM: Give Us More Money Or We Go BK

On February 5th I had a short post that noted GM was falling behind on the survival┬áplan it is required to submit to the government on Tuesday. The lack of a car czar was blamed for slowing discussions with its bondholders and unions. Now, according to the Wall Street Journal, it appears as if there […]

One More Reason Chapter 11 Is The Right Solution

Bloomberg has a story about GM and Chrysler grappling with how to trim their dealer network. It has to be done but it isn’t easy as state franchise laws protect the dealers. Restructuring the network of independent retailers is more difficult than negotiating with bondholders or the United Auto Workers union, which can bargain as […]