That's basically the way I see it. Wipe out the shareholders and re-work the union agreements, then re-capitalize through the markets. Oh, and use BK to wipe out layers of middle management and streamline operations. I agree, it isn't going to be easy, but the alternative is to leave these companies on life support indefinitely.
As to the bailout idea, even if the money is a loan, I don't see how they are going to pay it back under current conditions. I would rather see them go through BK and come back as leaner, more competitive companies. On Fri, Nov 7, 2008 at 2:14 PM, Gruss wrote: > As a guy who went though bankruptcy in the airline industry (and > survived 14 rounds of layoffs - w00t!) I can firmly rule: bankruptcy. > > > > It won't be easy, but the alternative is worse. > > and no bridge loans. You don't lend someone money to continue to do > what ain't working. You're just an enabler then. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:279391 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
