What happens to GM if they tell President Obama they will go to bankruptcy?

by **shipley** » Wed Oct 26, 2011 10:12 pm

http://www.sec.gov/investor/pubs/bankrupt.htm

Corporate Bankruptcy

What happens when a public company files for protection under the federal bankruptcy laws? Who protects the interests of investors? Do the old securities have any value when, and if, the company is reorganized? We hope this information answers these and other frequently asked questions about the lengthy and sometimes uncertain bankruptcy process.

Read this web site and become informed. Bailouts are not necessary and we need to stop them.

by **kendrix** » Wed Oct 26, 2011 10:14 pm

1. They get my business for refusing the government's ultimatum.

2. All contracts with the unions will be voided by the bankruptcy court.

3. They will be given an opportunity to reorganize and show they can run profitably without union or governmental interference.

4. Comrade Obama will become a stuttering fool when his ultimatum is shoved down his throat and GM becomes profitable IN SPITE OF his attempt at fascist control.

by **nissim42** » Wed Oct 26, 2011 10:31 pm

He gets all their cars in gives them away to welfare liberals oprah-style

by **artek57** » Wed Oct 26, 2011 10:33 pm

I think Obama should let them fail. A little late now that he already gave them so much taxpayer money. What a failure.

by **adelphos** » Wed Oct 26, 2011 10:39 pm

LET EVERYBODY that fails FAIL!!!!

Nobody wants HUssein's ROTTEN milk!

Say no to the TIT OF SOCIALISM!

by **boyce** » Wed Oct 26, 2011 10:45 pm

Did the federal government go to GM and demand that GM take a bailout? I seem to recall it worked the other way....

by **byron92** » Wed Oct 26, 2011 10:58 pm

Thanks for the info.......we need to let them fail

by **unss94** » Wed Oct 26, 2011 11:03 pm

They tear up their union contract ! Something Obama is not about to let happen.

by **talbot** » Wed Oct 26, 2011 11:05 pm

Forget GM this would slide America in to the full fledged Depression that Obama is hoping for.

by **colten** » Wed Oct 26, 2011 11:07 pm

Mr. Obama and the Treasury Sectary are walking a very thin line on the limits of what they are entitled to do. If they have not already stepped over that line.

The stockholders are the ones that choose who the Board will be NOT the President of the US.

This country is not a dictatorship. Even though the Whitehouse is trying to make it that way.

Slowly but surely more and more freedoms are being taken away with the government taking over private enterprise by coming in the back door with a smooth talking salesman who sales his rhetoric to the public..

Ford saw the hand writing on the wall and is moving manufacturing and assembly to South American to avoid a take over by the US government.

And people cry about outsourcing without looking at the reason why.

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