GM board hired advisers to consider bankruptcy

Port1385 · Dec 11, 2008

Why else would they hire lawyers and make plans? If they were so confident that banruptcy is not an option, then why prepare? GM will be on the pinks soon enough....

http://online.wsj.com/article/SB122903816924599853.html?mod=googlenews_wsj

crgarcia · Dec 11, 2008

Quote from Port1385:

Why else would they hire lawyers and make plans? If they were so confident that banruptcy is not an option, then why prepare? GM will be on the pinks soon enough....

http://online.wsj.com/article/SB122903816924599853.html?mod=googlenews_wsj

They are only pretending to scare Congress and Senate.

forsalenyc · Dec 11, 2008

who are GM's most notable creditors?

Port1385 · Dec 11, 2008

I wouldnt think of the creditors, but all of the other ancillary companies that make a living off of GM.

stock_trad3r · Dec 11, 2008

This is BS. Why would the stock be up in AH? There is no bankrpty. All speculation on nothing.

nickdes · Dec 11, 2008

GM board hired advisers to consider bankruptcy 12/11 07:18 PM

DETROIT (Reuters) - General Motors Corp (GM:$4.12,00$-0.48,00-10.43%) hired outside advisers to weigh bankruptcy, but the board determined that a filing was not an option for the struggling automaker, a GM spokesman said on Thursday.

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Cut / Paste from streaming news! They did not file!

KeithOmalley · Dec 11, 2008

Quote from Port1385:

Why else would they hire lawyers and make plans? If they were so confident that banruptcy is not an option, then why prepare? GM will be on the pinks soon enough....

http://online.wsj.com/article/SB122903816924599853.html?mod=googlenews_wsj

hey i have 20 year life insurance and a will set up and im healthy and 30 years old. its pretty irresponsible not to have a plan if your attempt for government money is unseucessful. no planning turs a chapter 11 into a chapter 7 very quickly

MarginCalled · Dec 11, 2008

Quote from KeithOmalley:

hey i have 20 year life insurance and a will set up and im healthy and 30 years old.

What kind? 20 year term life insurance? What a waste of money.

Q12 · Dec 11, 2008

Quote from MarginCalled:

What kind? 20 year term life insurance? What a waste of money.

What if his wife left him and he has a two year old son that he has to take care of. Unlikely, but you never know.

MarginCalled · Dec 11, 2008

Quote from Q12:

What if his wife left him and he has a two year old son that he has to take care of. Unlikely, but you never know.

Term life insurance wouldn't cover his wife leaving him, unless she dies and was insured