tommac95
07-06-2009, 07:35
Two Versions-
(a)
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/06/AR2009070600450.html?hpid=topnews
Bankruptcy Judge Approves GM Sale By Tomoeh Murakami Tse
Washington Post Staff Writer Monday, July 6, 2009; 9:48 AM
(b)
“Bankruptcy courts have the power to authorize sales of assets at a time when there still is value to preserve — to prevent the death of the patient on the operating table,” Judge Gerber wrote.
Business Court Ruling Clears Path for G.M. to Restructure
By MICHAEL J. de la MERCED Published: July 6, 2009
A judge approved a plan by G.M. to sell its best assets to a new, government-backed company, a crucial step for the automaker to complete its bankruptcy process.
http://www.nytimes.com/2009/07/06/business/06auto.html
Some how , never figured to read this .
My suspicion is that , absent the financial bailouts packages by the Bush&Obama admins , much of the national assets would be sold (to the Chinese) , except companies very conservatively managed in the financial sense {closely held , privately owned , no leverage} ... and one interesting thing is that the Chinese banking system is reputedly SO Corrupt it makes Japan1990s//USAcurrently look pristine !
(a)
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/06/AR2009070600450.html?hpid=topnews
Bankruptcy Judge Approves GM Sale By Tomoeh Murakami Tse
Washington Post Staff Writer Monday, July 6, 2009; 9:48 AM
(b)
“Bankruptcy courts have the power to authorize sales of assets at a time when there still is value to preserve — to prevent the death of the patient on the operating table,” Judge Gerber wrote.
Business Court Ruling Clears Path for G.M. to Restructure
By MICHAEL J. de la MERCED Published: July 6, 2009
A judge approved a plan by G.M. to sell its best assets to a new, government-backed company, a crucial step for the automaker to complete its bankruptcy process.
http://www.nytimes.com/2009/07/06/business/06auto.html
Some how , never figured to read this .
My suspicion is that , absent the financial bailouts packages by the Bush&Obama admins , much of the national assets would be sold (to the Chinese) , except companies very conservatively managed in the financial sense {closely held , privately owned , no leverage} ... and one interesting thing is that the Chinese banking system is reputedly SO Corrupt it makes Japan1990s//USAcurrently look pristine !