I hate the guy but cannot argue with his plan.
As he started to speak, I said to myself, here it goes, state the problem then demagogue the solution, but it did not happen.
No, I'm not crazy about termination of the CEO but stuff happens.
Now comes the execution which is a whole different ball of wax. If they really carry through on their "threats" and let Chrysler go bankrupt then they get my kudos.
Damn.
4 comments:
Glad I was sitting down...
And - don't be a hater. You don't like O's policies, however, you do not hate the man, do you?
Didn't think so.
They are way out of line on this one. The thing I do not understand about this entire debacle is: why is GM and Chrysley so afraid of filing for bankruptcy protection? How many other major corporations have filed and come out leaner and actually competitive. There will come a time when we have to stop pouring money down these sinkholes.
They haven't filed BK because they have not wanted to erase shareholder equity. I don't blame them. I'd rather take an onerous government loan than wipe out my stake!
Nonetheless - the equity will soon be gone. I simply don't see another way. UAW and bondholders will also be taking substantial haircuts.
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