my hope is that Congress delays long enough and we lose Chrysler to bankruptcy, and then GM can negotiate a structured bankruptcy for govt funds shortly thereafter. of the 3 GM and Ford have a somewhat positive outlook, and a forward looking production lineup with a lot of cars/trucks that will be competitive with foreign automakers. Chrysler is falling apart, and their mis-management is the worst of the 3. plus they tanked the only hybrid production models they had in production.
it feels to me like the automakers are using the end of the world gambit here, and predicting a lot of doom and gloom if they restructure under chapter 11. if US Air can bounce back i am pretty sure that Chrysler or GM can given that they start producing cars that make sense to buy.
"We've been through enough of these bankruptcies that I can tell you, that is the worst possible path for this industry to go in," Gettelfinger says. Filing for Chapter 11 protection "would lead to Chapter 7, which is liquidation," he says. "I firmly believe that."first off i don't get how the situation can get WORSE for the automakers right now. their sales have dropped off in double digts and it's going to get worse before it gets better. i love the hypocrisy here, if we file Chapter 11 without a bailout we'll go straight to Chapter 7, but if we file Chapter 11 with a bailout we'll somehow avoid Chapter 7 because the government held our hand through it. i do not believe the American public sees a difference in either bankruptcy filing.
this is a good article about this very topic: GM Bankruptcy Option Under Discussion