Comments on: Supreme Court Lifts Stay in Chrysler Sale

By: AD - RtR/OS!

AD - RtR/OS! — Sun, 14 Jun 2009 19:44:12 +0000

The good and bad of Government Motors….
The Corvette Team took another class win at LeMans today.
It could very well be the last time they ever compete at LeMans.

By: James B. Shearer

James B. Shearer — Wed, 10 Jun 2009 07:09:12 +0000

… Do you not understand how fundamentally wrong that is?

I don’t see how it is any worse than all the other undeserved benefits the government hands out.

By: JD

JD — Wed, 10 Jun 2009 06:45:07 +0000

h2u – So long as Teh One is doing it, it is alright.

By: JD

JD — Wed, 10 Jun 2009 06:37:15 +0000

This is pure unadulterated Obama-love here. Good Allah. James, you admit that some unsecured creditors are getting more than they deserve. Good on ya’ for at least admitting that. Do you not understand how fundamentally wrong that is?

By: Ed from SFV

Ed from SFV — Wed, 10 Jun 2009 06:27:15 +0000

The Jeep brand is easily worth billions by itself, if there were an unencumbered market.

By: James B. Shearer

James B. Shearer — Wed, 10 Jun 2009 05:59:37 +0000

Pure speculation, James. It was at the expense of both …

Why do you believe Chrysler’s assets were worth more than $2 billion?

By: BR

BR — Wed, 10 Jun 2009 05:51:42 +0000

Heh- Fiat law.

By: h2u

h2u — Wed, 10 Jun 2009 05:37:21 +0000

However this generosity is at the expense of the taxpayer not the secured creditors.

Pure speculation, James. It was at the expense of both — it’s only that we can absolutely certain of the taxpayer expense.

By: James B. Shearer

James B. Shearer — Wed, 10 Jun 2009 05:34:54 +0000

Risky, yes. Unreasonable, no

It is unreasonable in that it gave the unions more generous terms than it had to. However this generosity is at the expense of the taxpayer not the secured creditors.

By: James B. Shearer

James B. Shearer — Wed, 10 Jun 2009 05:30:46 +0000

19.James – Explain to us why unsecured creditors are being compensated at a rate higher than secured creditors. We already know poon cannot do that, but maybe you can. It will be interesting to hear how that happens in your world, since it rarely if ever happens in bakruptcy court.

I believe only some unsecured creditors are getting more, others are getting nothing. As for why, it is because the government is giving them a gift, without government support they would likely get nothing.