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Re: [Pen-l] labor and the auto companies




On Nov 20, 2008, at 2:48 PM, Rudy Fichtenbaum wrote:

It would be "cheap" to by GM but you would buy all of their debt which is substantial. Essentially they have hocked everything they own as I understand it.

Thus the allure of bankruptcy. Break the labor contracts and wipe out a bunch of debt. It seems inevitable.


Doug
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