GM will NOT "go on" after a Ch 11 filing, they'll end up liquidating and Mike, "All collection efforts by creditors are put on hold." Yup, that includes the suppliers and where will GM get their parts and "go on" when the companies that make them can't get paid for what their owed already? The "creditors" are largely suppliers (big and small) who are on the verge of bankrupcy themselves. Can someone please explain to me how GM's Ch 11 filing will NOT cause ripple effects? People make it sound so easy. "Just file and restructure". Yet, they have no clue about the nuts and bolts of this event. Very few people who oppose the bridge loan have thought it through, including naysayers on this Board. Assembly plants shut down very quickly when even ONE supplier doesn't ship parts. Compound that by the hundreds that will quickly go out of business just waiting for a bankruptcy judge to ok payments and the auto industry will be in paralysis. That includes the transplants as many suppliers that supply to GM also supply to Toyota, Honda, Nissan, etc.
Please, please, someone explain to me how these comments are logically wrong? Don't just rant and rave about mismanagement, greedy unions, etc. Explain to me how "life will go on" in the auto industry.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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