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

On Thursday, November 20, 2008 at 14:52:34 (-0500) Doug Henwood writes:
>
>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.

But why are the GM executives trying to avoid this?  Do they go out
the window as well?


Bill
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