njcommuter
2009-06-09 08:23:46
The automakers have been under government pressure for so long that they deserve one last chance–free of the destructive union contracts and government meddling in their product line and their dealer networks. The best way to get this is to go to Bankruptcy Court. I would not be against the government offering to buy some NON-CONVERTABLE preferred stock afterwards, so long as the bankruptcy made economic sense otherwise, but only because the government’s oppressive hand helped to create the mess.
