Quote:
Originally Posted by Scott@Bjorn3D
The problem is even in chapter 11 they probably will not make it. They have NO MONEY and the banks will not loan them money to get thru chapter 11. If the credit crysis was not here it would be different. But if you can not pay an employee he/she will not work for free. No work, no cars, no income.
If congress was smart they would say all of you file chapter 11 on Monday. We will then give you the money to live thru your reorganization. But the have nothing from congress saying that they would do that.
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Exactly, Congress basically said no today, and with the session ending tomorrow, it looks very unlikely that any aid will come. In addition, the threat was not of chapter 11, it was of total liquidation. Total liquidation equals no Camaro