GM will NOT "go on" after a Ch 11 filing, they'll end up liquidating and Mike, "All collection efforts by creditors are put on hold." Yup, that includes the suppliers and where will GM get their parts and "go on" when the companies that make them can't get paid for what their owed already? The "creditors" are largely suppliers (big and small) who are on the verge of bankrupcy themselves. Can someone please explain to me how GM's Ch 11 filing will NOT cause ripple effects? People make it sound so easy. "Just file and restructure". Yet, they have no clue about the nuts and bolts of this event. Very few people who oppose the bridge loan have thought it through, including naysayers on this Board. Assembly plants shut down very quickly when even ONE supplier doesn't ship parts. Compound that by the hundreds that will quickly go out of business just waiting for a bankruptcy judge to ok payments and the auto industry will be in paralysis. That includes the transplants as many suppliers that supply to GM also supply to Toyota, Honda, Nissan, etc.
Please, please, someone explain to me how these comments are logically wrong? Don't just rant and rave about mismanagement, greedy unions, etc. Explain to me how "life will go on" in the auto industry.
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Today's Featured Article - The Mud Daubers and the Old John Deere - by Jon Zehnder. I have a 1941, John Deere Model A tractor I have owned for about a year and a half. This is my first (in case my wife reads this, "FIRST") tractor and it has been a learning experience. After considerable advise and assistance from local tractor nuts and the forums of Yesterday�s Tractors, I had finally got it running pretty well. I have tuned it up, overhauled the carburetor, installed a borrowed, rebuilt magneto, installed a new Power-Trol, patched the radiator, installed new front wheels a
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