Comments on: Chrysler Hires Jones Day As Bankruptcy Counsel

By: guest

guest — Mon, 08 Dec 2008 15:19:40 +0000

good morning 30 and 31,
You’re a patroning jerkoff and I don’t like you.
What sort of backoffice job do you do?
I own a senior unsorb and I’m short common. GM goes 7 or nothing if they use title 11.
Let me help you out retard. Look up what happened to mitsu sales when they went bankrupt. Big 3 suppliers will shut down so none of it will matter because they won’t be able to make cars or parts. GM already has their main suppliers at 90+ days.
Here’s the really good part. Theres this little company called AIG which sold 45+ billion CDS on GM debt. Oh, you didn’t know that? The government is already on the hook. I’ve got close to 1.5 mm of my own money at risk here but maybe I didn’t do my homework. Hahaha.
A voluntary restructuring is what will happen.
Now go back to work and see if you score some free hot chocolate in the kitchen. I’m going to sell the GS I bought at 65.31 last week and then go masturbate to naked pictures of my penthouse centerfold girlfriend. 1994.
Go back

By: guest

guest — Sat, 06 Dec 2008 20:02:19 +0000

Jones Day is no longer a Cleveland law firm. The largest office is actually NY (not DC, as someone above posted) – but DC is close behind.
I think any of the Big 3 would be foolish to attempt to “lawyer up on the cheap” given the dire state of their affairs.

By: guest

guest — Sat, 06 Dec 2008 15:52:52 +0000

There have been numerous bankruptcies in the automobile industry. They have been handled by all the bid debtor bankruptcy shops, including K&E, Skadden and Jones Day. Jones Day handled Dana, a supplier to the Big 3. It was the largest bankruptcy filing in 2006, and it turned out very well considering the dismal results of most other supplier bankruptcies. Jones Day is well connected in rust belt and is one of the only firms that can handle such a large chp 11. Other firms would include K&E, Skadden and Weil. I am sure that GM is engaging one.

By: guest

guest — Sat, 06 Dec 2008 03:05:04 +0000

“Have you given any consideration to the fact that mgmt and the bod has a fidiciuary responsibilty to shareholders and debtholders”
Now I know you’re not serious.
Props to: “I’m on an iphone so im not going to waste my time fighting a touchscreen to type out a long reply.”
nice touch Big Time Wall Street
love,
@19

By: Anal_yst

Anal_yst — Fri, 05 Dec 2008 22:41:29 +0000

@22
The name calling wasn’t necessary, but your post was a bit pompous and begged for it, regardless, I appologize for not taking the higher road.
See #25/26. I realize in practise this is easier said than done, the point is though, that with dedication, it can be, and should be (about damn time).
@ 27/28
Who the f is going to buy GM/F/Chrys assets in chpt 7? Toyota, Honda? haha come on gimme a break. Your thinking out of the box isn’t necessarily a bad thing though, perhaps just not too-well thought out. Equity is already wiped out (common is essentially a call option, and has been for quite some time), and the bondholders deserve what they get, unfortunately. Fixed income investors in general have been too lax in the past, everyone has to pay the piper some day.

By: guest

guest — Fri, 05 Dec 2008 21:55:21 +0000

oh and to bullet point number 6:
A year and a half ago we were a long way from leh, bsc, ms, c, mer et al going out of business, no?

By: guest

guest — Fri, 05 Dec 2008 21:43:06 +0000

I’m serious like cancer.
I’m on an iphone so im not going to waste my time fighting a touchscreen to type out a long reply. You’ll probably make fun of my grammer anyway.
Have you given any consideration to the fact that mgmt and the bod has a fidiciuary responsibilty to shareholders and debtholders, and 7 may be a better option than an 11, especially since all the jerkoffs calling for a prepackaged reorg which kills all the equity and debt leaves the owners of the company with zero?

By: guest

guest — Fri, 05 Dec 2008 21:39:42 +0000

By: guest

guest — Fri, 05 Dec 2008 21:24:55 +0000

Hi 24,
Are you serious?
1.) Not sure how you get to “liberal”
2.) Your post was fucktarded
3.) I’ve had my face cracked enough to know it hurts. It won’t hurt any more from a smug prick like you.
4.) BK doesn’t equal “bailing out the entire state of MI”
5.) 3M workers (uncited) just don’t jump en masse onto the unemployment rolls if the Big 3 go into BK.
6.) We are a long way from munis defaulting en masse and the entire capital system dissapearing.
Panic much?

By: guest

guest — Fri, 05 Dec 2008 20:45:57 +0000

@22/15 Debt holders are screwed anyways — they are not taking it for anyone.
Orderly re-org:
i) cut down number of product lines/ brands
ii) renegotiate with distributors
iii) cut wages from $70 to $45 like Toyota
iv) cut redundancies arising from (i) and (ii)
You work for McKinsey?

By: guest

guest — Fri, 05 Dec 2008 20:44:54 +0000

hi 21,
i hate liberals like you. the type of person who starts a fight with some, calls them names, and then calls the cops and sues when i break their jaw.
ever been cracked in the face? it really hurts.

By: Cincinnatus C

Cincinnatus C — Fri, 05 Dec 2008 20:44:11 +0000

more importantly, i wonder which lit shop is gonna get that juicy unsecured creditor committee work. dare i say RSM McGladrey??? :0

By: guest

guest — Fri, 05 Dec 2008 20:42:10 +0000

18 – take it easy and put your pejorative guns down. you wouldn’t call me a moron if you were discussing this with me personally, so don’t feel so free to do anonymously.
please describe an “orderly” reorg?
fucking suppliers into bankruptcy?
expecting debt holders to take one for team america when they would do better in a 7?
breaking the union?
be specific.

By: guest

guest — Fri, 05 Dec 2008 20:41:20 +0000

@15,
You’ve presented a stellar example of your fucktardedness in one simple, elegant post. Congrats, mouthbreather!

By: guest

guest — Fri, 05 Dec 2008 20:40:35 +0000