GM Considers Chapter 11 Filing, Plays Chicken With UAW

by Benjamin Domenech on 11:16 am February 15, 2009

GM attempts again to make the UAW the villain. Bankruptcy filing would cause the creation of a new company, mean that all bets are off for union. Management may have trouble getting long-term debtholders to take a 70-cent haircut, since they want the same deal as the union.

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