[MSF BU]

They may be able to file for reorganization, nullifying their pension liabilities and starting from a baseline budget.

[El Sordo]

It would sure beat a bailout.

I imagine much may depend on the make-up of Congress and the next Presidential Administration.

Hopefully the write-offs that made for such huge losses will put them in a position to avoid asking for a big hand-out.

But this is really outside my realm of competence. I never had a head for this level of finance.

[Rb ver. 2.0]

"They may be able to file for reorganization, nullifying their pension liabilities and starting from a baseline budget."

There will be riots in Michigan.

[norton]

Major companies are already dropping retirement benefits - medical first, actual pension value following.

Boeing is virtually hoping to get out of California no matter how good an airplane the C-17 is (their only California product after axing MDC's remaining commercial jet). When a union can not only shut you down, but sabotage the product, negotiations are a bit lop sided.

Someone asked whether his Canadian built Ford or his Tennessee (?) built rice burner was more American - the issue is not 'American' but:
a) Tennessee and the other states Honda et al have moved to - cheaper labor.
b)And, where do the profits go? Regardless where (in North America) Ford builds a car, the profits don't go to Japan.