Texas Proud
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 16, 2005
- Messages
- 17,266
If GM went into BK without gvmt help.... it would emerge as a smaller company at the other end... you can call it liquidation or whatever, but it would not 'go away'...
If I was a senior secured bondholder, I would want to get 100% of my money before any other bondholder or general creditor got ANYTHING... that is where I would sit in the pecking order... the Chrysler senior secured are not getting that, but the UAW debt which is JUNIOR to them is getting a lot more...
And even the general bondholders here should be getting more than the UAW... or at least the same % on the dollar... but they are not...
I see someone like Chavez in the White House... this is a sad day for America...
If I was a senior secured bondholder, I would want to get 100% of my money before any other bondholder or general creditor got ANYTHING... that is where I would sit in the pecking order... the Chrysler senior secured are not getting that, but the UAW debt which is JUNIOR to them is getting a lot more...
And even the general bondholders here should be getting more than the UAW... or at least the same % on the dollar... but they are not...
I see someone like Chavez in the White House... this is a sad day for America...