Ferrari Mailing List: Re: More

[Mike Fleischer (themightytoe]

I am just a simple engineer...  I am still busy stacking whatever 
singles I can find and trying to extrapolate how high they would stand 
if I had a billion of them...

Wondering if I should stack them by face, by long edge or by short 
edge...  Ah well...

To Chrysler, So if I see this clearly:

1.  Chrysler's bankruptcy screws many secured creditors.  (that stinks, 
its not fair)

2.  Those same secured creditors are upset and want more money, and are 
taking legal action to get it (OK well at least the lawyers are still 
getting paid)

3.  By giving in to their demands for more money, the company liquidates 
under Chapter 7?  (Hey Lawyers still get paid!)

4.  And said creditors get less money after all is said and done, and as 
a bonus, many more jobs lost in their communities as well (except for 
the small boom in Lawyers)?

Just trying to picture things here.  Honestly at this point GM and 
Chrysler have been dead/dying for quite a while.  This is just the 
ugliness of the families trying to figure out who gets what before the 
old man has actually died.

Mike


Brian E. Buxton wrote:
>   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.
>
>