ST Alpha - ""the government would give G.M. and Chrysler enough financing to operate for several months. Then a government-selected overseer would bring together " (Reading a Post)

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In response to "Bush considering government-backed DIP financing for an "orderly bankruptcy" of auto companies. -- (link)" by znufrii

"the government would give G.M. and Chrysler enough financing to operate for several months. Then a government-selected overseer would bring together

Posted by Loyola Dec 18 '08, 10:20

company executives and other representatives to map out steps that would be taken once the two companies file for Chapter 11 protection."

All I get from that is "We'll give you a couple hundred million/billion to get you through the next few months, but after that you file for bankruptcy"

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[deleted] 3
- and also assures that the companies will be able to have financing to continue to operate under bankruptcy protection - znufrii Dec 18, 10:27 2
  - [deleted] 1
    - but removing the uncertainty from the process is only a good thing. -- nm - znufrii Dec 18, 10:32

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"the government would give G.M. and Chrysler enough financing to operate for several months. Then a government-selected overseer would bring together

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