Ok go with Chapter 11. Then you will have reconstruction and renegotiation and see where it takes you.
They don’t want to go Chapter 11 because they say that people won’t buy a car from a company in bankruptcy. How likely is anyone to buy a car when the head of the company says they may not be there by the end of the year?
That’s right — Chap. 11, then renegotiate on those union jobs. Didn’t the UAW recently say they were “standing firm” on their current figures?
Now their members can “stand firm” in the unemployment line.
There is one group that this should scare to death.
The unions.