What a joke, I can’t wait for every other company in the US to try this. Tons of debt, no problem, just write it off in a quick reorg.
I will never buy GM or Chrysler EVER. I will ride a bike or a scooter first.
Yep, the damage is done.....wrongfully appointed owners now are able to transition debt-free to continue to do business under the government’s thumb. Guess what GM? It will be a freezing cold day in hell before I even think about looking at a new GM car, period....all you UAW and government workers can eat the plastic, what little metal, foam and other materials those cars will be made of because you won’t be getting any money for them.
The thing is, the ones out here who can’t find a job to pay off their own debt don’t have the bankruptcy option like the corporations do.