Monday, February 16, 2009

Just File for Bankruptcy Already

GM talks progressing, but Tuesday deal to restructure unlikely | Detroit Free Press I don't know why they are trying to reach a deal. The parties are too far apart.

The bond holders don't want to accept equity. The chances that equity will be worth anything are slim, and they aren't even being offered much equity. The UAW is not interested in concessions. Fine. They don't have to be.

The company should just file for protection and get it over.

Oh, yeah... anyone who believes that Free Markets are a good thing, should never buy anything from GM.

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