Tuesday, December 09, 2008
Yesterday the Tribune Companies declared Chapter 11 bankruptcy.
In doing so, the company announced its papers would continue to publish, and its TV stations would continue to broadcast.
Much the same happened here in Atlanta when Delta declared Chapter 11. It continued to operate, even as it restructured.
So, tell me, what's so different about the Detroit Three?
I keep hearing that their collective bankruptcy would put ONE HUNDRED BILLION PEOPLE out on the streets, but history doesn't support this assertion.
I think our political and economic overlords want to stampede us into bailing out some cushy executive jobs and a number of unsustainable union contracts.
If they get it once, they'll be back.
In doing so, the company announced its papers would continue to publish, and its TV stations would continue to broadcast.
Much the same happened here in Atlanta when Delta declared Chapter 11. It continued to operate, even as it restructured.
So, tell me, what's so different about the Detroit Three?
I keep hearing that their collective bankruptcy would put ONE HUNDRED BILLION PEOPLE out on the streets, but history doesn't support this assertion.
I think our political and economic overlords want to stampede us into bailing out some cushy executive jobs and a number of unsustainable union contracts.
If they get it once, they'll be back.
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