Archive for the ‘bankruptcy’ tag
Orderly Bankruptcy for Automakers
According to a report from Reuters, President Bush is “worried about a disorderly bankruptcy”. This concern was expressed after Chrysler had announced it’s plants would be closed for an entire month. Given the Administration’s beating around the bush (pun intended) with respect to bailing out the automakers, it is probably safe to expect that nothing more will be forthcoming other than additional expressions of dismay. The hope apparently is for an orderly bankruptcy.
Procerity’s Prognosis: The markets may present a buying opportunity when the expectation of an automaker bankruptcy finally becomes a reality.