What happens at birth if GM files bankruptcy?
Posted by teanpow | Filed under What Articles
As we all know, car manufacturers have experienced brutal. Japanese, German, American, French - no matter where they come from. All indications are GM is about to file for bankruptcy. From the perspective of motor sport, the question is what happens to NASCAR?
GM has lost more than 30 billion dollars in 2006. He "has lost another 30 billion euros in 2008. The company is in great shape horrible and it seems that there is no way to hold off filing bankruptcy. The powers that be at GMunions and government have tried to find a solution, but the business model seems to be just a disaster in modern times.
There are many questions about what bankruptcy would mean. What about all the retired GM workers who live in retirement and health plan can not be sustained? What about current workers? These are serious questions that have no clear answer and clean. Bankruptcy will be brutal.
Only Motorsportsthat … sport. Which are obviously not as serious as real problems such as people lose their jobs. Again, we must consider what will happen to NASCAR when GM files. If health plans are canceled, you may be a bankruptcy judge does not look favorably on spending money on racing. This could lead to a massive amount of turbulence in NASCAR.
Consider the Sprint Cup, the top division in NASCAR. The brand is great GM Chevrolet. Teams like Hendrick, Earnhardt GanassiStewart Haas and Richard Childress Racing Chevrolet all cars. These are great teams, such as driver Jimmie Johnson, Tony Stewart, Jeff Gordon, Mark Martin, Dale Earnhardt Jr., Ryan Newman, Kevin Harvick, Jeff Burton and Martin Truex. All that could be thrown into turmoil.
If GM were to file bankruptcy tomorrow, the impact would be enormous. All contracts GM has decided to strike are frozen. The bankruptcy court can cancel them if you wish. This effectively means that each supplierGM and these teams will be worried about not being paid. In such a situation, any Chevrolet team will face a credit crisis. The hope is that NASCAR could intervene and provide a guarantee of payment, but there are clear indications, NASCAR is able to do so.
Most people can not image GM actually paid, but you must open your eyes. The company did not pass by a bump on the road, which crosses a great bloodshed. A society that losesU.S. $ 30 billion a year before the coup recession [2006] did not need help "small". A fatal flaws.
A more reasonable possibility, the result of a possible GM bankruptcy would be the company would be broken into small pieces and sold - a great American institution to end its misery. If this happens to be the season of NASCAR will be a disaster, half of the team that suddenly there are cars and parts. What a waste.
Tags: bankruptcy?, happens
