R
retiredweaxman
Guest
Maybe your favorite politician can do to NASCAR what he has been doing to the rest of the country.
Under the plan, GM would file for prearranged bankruptcy, the report said, and would then use a sale authorized under Section 363 of the U.S. bankruptcy code to sell off desirable assets to a new company financed by the government.
These more valuable assets might include Cadillac and Chevrolet, as well as assets the company needs to run its business, the Times said.
Plans are still under discussion and details are subject to change, the report said.
The Federal Gov't financing Chevy??? Socialized NASCAR???
The full article is listed here:
U.S. plans to ease GM into bankruptcy: report
Under the plan, GM would file for prearranged bankruptcy, the report said, and would then use a sale authorized under Section 363 of the U.S. bankruptcy code to sell off desirable assets to a new company financed by the government.
These more valuable assets might include Cadillac and Chevrolet, as well as assets the company needs to run its business, the Times said.
Plans are still under discussion and details are subject to change, the report said.
The Federal Gov't financing Chevy??? Socialized NASCAR???
The full article is listed here:
U.S. plans to ease GM into bankruptcy: report