Ferrari Mailing List: Re: More

[cavallino_rapante (cavallino_rapante]

This doesn't make sense.....the reports I read indicated that secured 
bondholders WANTED the company to go into liquidation, so they could recover 
more money for their investment (as pieces of company equity are sold-off to 
satisfy debt obligations) than if the company went into Chapter 11......this 
report would indicate the opposite?
 
Either way, I don't see how anyone 'wins'.....would you buy a car affiliated 
with this mess?  Neither would millions of other Americans, I don't think.
 
M

--- On Tue, 5/26/09, Brian E. Buxton <BrianBuxton [at] BuxtonMotorsports.com> 
wrote:


From: Brian E. Buxton <BrianBuxton [at] BuxtonMotorsports.com>
Subject: [Ferrari] More
To: "Michael" <Cavallino_Rapante [at] yahoo.com>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Date: Tuesday, May 26, 2009, 2:41 PM



  Chrysler: Bankruptcy Objection Could Mean Liquidation

Michigan-based Chrysler LLC says meeting the demands of Indiana 
Treasurer Richard Mourdock's objection to bankruptcy proceedings will 
lead to the company's liquidation. Mourdock filed the objection based on 
Chrysler's proposal to pay secured creditors 29 cents on the dollar, 
which would affect three state funds. Chrysler notes its debt to the 
funds make up less than less than one percent of their assets and the 
loss would be significantly more if the company is forced into 
liquidation. Indiana Congressman Joe Donnelly (D-2) says Mourdock's 
objection could result in the loss of more than 5,000 jobs in Kokomo. 
Read More 
<http://click.news.growindiana.net/?ju=fe2e15777465067f7c1175&ls=fe2517727d6d067a711675&m=fef8107070620c&l=fec916747163067e&s=fe5c1175726504747017&jb=ffcf14&t=>
 
Mourdock outlined his position in a recent conversation with Inside 
INdiana Business Host Gerry Dick.

-- 

Brian E. Buxton, President



Buxton Motorsports, Inc. <http://www.buxtonmotorsports.com>

301 North Royal Ave.

Buxton Plaza

Evansville, IN 47715-2866

(812) 476-2281 x 209 office

(812) 760-5513 mobile



Member ThaList.com <http://www.ThaList.com>



President, Brian Buxton Enterprises, Inc. 
<http://www.buxtonmotorsports.com/storage-transportation.php>

Nationwide Enclosed Auto Transportation



Founder & Past President

SO. IN Region PCA

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