Reuters is reporting that Chrysler, LLC. is headed to bankruptcy after several holders of secured debt refused the Treasury/TARP banks/Chrysler last offer of $2.25 billion in cash in exchange for retiring the $6.9 billion in secured debt. As I noted last night, it’s a risky proposition for both the hedge funds thinking they’ll do better than the 32.6 cents on the dollar they would have received in the cramdown (sources say that in a liquidation they’d get closer to 50 cents on the dollar) and the Obama administration/UAW/Fiat plan to turn Chrysler into UAW Motors presented by the United States Government as it goes to the whims of a judge.
Polls
What should NBC do with the NFL opener pre-game and the Obama jobs speech?
Up to 1 answer(s) was/were allowed
- Bin the speech, tell the White House that they're just one network of many and that their cable news channel MSNBC is covering it anyway. (63%, 38 Vote(s))
- Offer both to the local affiliates, let all of them choose what to air on what channel. (33%, 20 Vote(s))
- Bin the pre-game and tell the NFL that they're just not that important. (3%, 2 Vote(s))
- Offer both to the local affiliates, let the affiliates in the Packers and Saints markets choose what to air on what channel, force the rest to air the speech on the main channel. (1%, 0 Vote(s))
Total Voters: 60
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