Quote:
Originally Posted by onewhippedpuppy
Why so few people realize this, I have no idea. Everyone thinks that bankruptcy means close your doors, which is not the case. Yes, people would lose their jobs. But ultimately the company that emerged would be more lean and efficient than before. BK is the only way these companies will sufficiently clean house to survive.
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Because the BIG Three are telling congress that more jobs will be lost and with current unemployment level at 6+%, Congress doesn't want the unemployment level to hit 10% as some forecasters are saying it will if the BIG Three goes into bankruptcy.