re: #798 Honorary Yooper

Correct. If the automakers file bankruptcy, they’ll file Chapter 11 reorganization. That enables them to reject all of their bad supplier and union contracts. They can slim down, reorganize, and come back leaner and meaner for global competition. That assumes of course, that current corporate leadership is competent to do that.

And don’t forget, they have the Obama Administration as a backstop. They’ve already borrowed billions from the government. In the new fascist environment, I wouldn’t be surprised to see a deepening of this “private-public” fascist partnership.