Quote:
Originally Posted by Slingin Sammy 33
No, they would've restructured under existing bankruptcy laws. With the ability to completely rework the union contracts they'd be in a stronger position than they are today.
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No, they needed a huge injection of capital as well and no one -- I mean no one -- was giving GM money. Credit was tight as you recall.
In the end the company did undergo a restructuring and the unions made huge concessions in the process. That's how the whole thing managed to work.