Big 3 CEO's (and UAW CEO) answering questions on CNBC (yesterday)

[rgrizzard]

Originally Posted by BigRigMike

I can't remember where I read this but it was stated that if an auto company goes bankrupt then all of the suppliers are going to want cash up front for parts which would lead to hemorrhaging cash at a faster rate than currently. Which means it might start out in CH 11 but unless someone loans them some money they will be out of cash and filing CH 7.

All suppliers want and get cash up front for capital and materials. I am in the capital equipment industry that supplies to cpu makers and we get cash up front from the best of them.

[rgrizzard]

Originally Posted by The_Blur

Did everybody read that? If GM survives on only 20% of its customers, assuming that GM customers are the average consumer, then it would not survive bankruptcy.

Do you think that 20% are buying right now, under all of this uncertainty? Under Ch11 we could gaurantee loans like this 25 billion but do a real reorg that Ch 11 allows us.

[Hylton]

Showing up in the company jet while asking for billions was a puts move. It spoke volmes to the American people with respect to how much personal sacrifice these guys are wiiling to give. Sellin the corporate jet(s) and forgoing salary would be a good start. I like Wagoner, but I wonder if he is the guy to solve this mess.

[rgrizzard]