Special Ed is a little “slow”.
I work for a financial services firm.
I have seen the paperwork up close - many times.
And yes, GM most certainly did declare bankruptcy.
For anyone to declare otherwise - well, they are an idiot.
Last I remember is that Bush initiated the TARP thing and Obama took it further and all those tax dollars were to stop GM and Chrysler filing for bankruptcy and keep union jobs.
The Fedgov screwed over the bond holders (100% loss) for the sake of a pact with the auto unions, while claiming the country couldn't allow such large companies go into Chapter 11 (too big to fail).
Huge mistake. Know why? Because Ford Motor Company didn't take any of those funds and still managed to survive and profit. The Fedgov hysteria about GM and Chrysler going down would kill our economy was all about union jobs.
What am I missing here? Pretty sure that's how it worked. If wrong, please refresh me...
Who?
"The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the Southern District of New York."
"After the Chapter 11 filing, effective Monday, June 8, 2009, GM was temporarily removed from the Dow Jones Industrial Average"
stupid is as stupid does (says)
http://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization
Ed Schultz Producer Apologizes for Comparing Va. Republicans to Nazi Death Camp Doctors
02/22/12
When has a liberal reached the realm of the truly unhinged? When reined in by Ed Schultz.
This happened yesterday on Schultz’s radio show when one of his producers, James “Holmy” Holm, let loose with yet another memorable rant, this one about Virginia Republicans pushing a law that would mandate an ultrasound before an abortion (audio) —
SCHULTZ: What is happening in America? This is going to be the most radical, intrusive law passed on women’s health since Roe v. Wade. And (Virginia Gov. Bob) McDonnell says that he’s going to sign it.
HOLM: Uh huh. He’s eager to sign it.
SCHULTZ: We gotta do something big on this tonight. (on MSNBC’s “The Ed Show”)
HOLM: To me, and I’m not, I’m not calling the fine folks in the Republican Party Nazis. But what this is, this is Joseph Mengele stuff. This is medical testing. This is arcane, ridiculous, basically torture what they’re doing to these people.
http://www.northeastteaparty.org/tag/james-holm
More On Ed Schultz’s Bar Fight
September 7th, 2007
Earlier this evening I wrote a post about North Dakota and national radio personality (and Democrat mouthpiece) Ed Schultz getting into an altercation with Kevin Nagle. Upon first hearing of the story, something just didn’t seem right.
Ed Schultz, those of us in North Dakota know, has a somewhat legendary temper. He’s known to be belligerent and very, very defensive. Kevin Nagle, on the other hand, seems to be a prominent businessman (a quick Google search shows him to be a prominent health care professional routinely quoted in news articles about issues like Medicare). The idea that Schultz was sitting innocently in a bar when Nagle came up and picked a fight with him just didn’t pass my smell test.
So I took the liberty of contacting Nagle directly and learned a few things that are pretty shocking, and certainly didn’t make it into the Fargo Forum article about this incident (or Schultz’s accounting of it).
To wit:
After the altercation, Schultz talked about it on both his local North Dakota talk radio show and his national show. Apparently Schultz has given out Mr. Nagle’s phone number to his listeners, and Nagle has been receiving hordes of phone calls to the point where it is threatening his ability to serve his clients.
At one point Schultz asked Nagle why he and his family weren’t over fighting the war in Iraq, and Nagle responded by pointing out that some of his family was, in fact, in Iraq. Or had been in Iraq. Schultz responded to this by saying that he hates “f***ing right-wing Republicans” and threatening Nagle to the point where the restaurant security began to take notice
Nagle responded to Schultz’s threat by saying he and his group were going to leave, at which point either someone from the hotel/bar or one of Schultz’s party (Nagle isn’t clear on this) grabbed his arms and pinned them behind him as Schultz approached with a fist cocked as though he was going to throw a punch.
Before Schultz was able to throw a punch, Nagle’s fiancee stepped in and Ed’s fist grazed both her and Nagle.
Nagle’s fiancee has bruises from this encounter.
At this point things were broken up. Nagle spoke with the bar owner, named Rick, and was told that he and his party were free to stay and that Schultz had left. Nagle is unsure of Ed left because he was asked to or because he simply fled.
Rather shocking, is it not? Of course, this is just one side of the story, but according to Nagle there were plenty of witnesses in the bar able to back up his story. Nagle also says that there is more to tell, which may or may not be forthcoming in the following days.
I get the feeling that Nagle really just wanted this all to go away until Schultz himself directed his listeners to Nagle’s private phone number.
Personally, I find Nagle’s story to be entirely believable and feel that Schultz is probably guilty of assault. And although this altercation started over a political disagreement, there is no excuse for it coming to blows. I think Schultz needs to apologize, at the very least for the thuggish and childish personal attack he launched at Nagle by making public his private phone number, if not for throwing a punch at both Nagle and his fiancee.
http://sayanythingblog.com/entry/more_on_ed_schultzs_bar_fight/
I’ve never heard of any Ed Schultz unless he was a German sergeant.
"GM filed for Chapter 11 reorganization in the Manhattan New York federal bankruptcy court on June 1, 2009"
Chapter 11 is bankruptcy. GM Filed bankruptcy. Don't believe me GOOGLE IT.
Maybe he’ll honor all the worthless old bonds and shares of the former General Motors.
Mental illness, has to be.
Technically, I don’t think GM or Chrysler ever did file for Bankruptcy protection.
OBama just basically seized those entities.
Then he disolved them.
Preferred Bond Holders didn’t get a dime
Preferred share holders didn’t get a dime
Common share holders didn’t get a dime.
Vendors on Accounts Payable didn’t get a dime.
I am pretty sure that vacations/pensions/seniority was passed over to the union employees- who are Barry’s minions.
The original companies were disolved by fiat by Barry.
The shares of the ‘new’ GM were given to the unions ‘because their pensions were not fully funded’—so they got the new shares.
GMAC=General Motor Acceptance Corporation, the financial arm of GM was disolved & all those assets became ALLY BANK!!!
Didn’t we all wonder where this new bank suddenly came from???
All those car purchase contracts were the Genisis of ALLY BANK!!!
I believe that this was a complete abrogation of anything even close to a bankruptcy law in the USA.....
And NO ONE even made a whimper of a challenge to it all!!!!!