Re: Auto-Workers may not get paid for not working?
Quote:
Originally Posted by gunga
Sure, maybe you could buy the outstanding stock for that price, but you certainly are not buying up their debt and future obligations (e.g. pensions and other retiree benefits) that comes along with it. According to this recent article, GM alone has $43 billion in debt, and various articles put their pension deficit (what they've promised their people vs what is actually in the account to pay out) at over $30 billion... add to that the fact that they are bleeding cash (more debt) every quarter and it's getting tougher to find new loans is why many economists are saying they should declare bankruptcy. $25 billion doesn't even begin to "fix" GM. |
I think the requested 25 billion would allow the company to stay out of bankruptcy for 6 months.
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