Our Bankruptcy Attorney Blog

This is a very sensitive subject these days. The New York times has a great bankruptcy article about Detroit and the plans for a possible restructuring plan.

Congress has given Detroit’s flailing automakers less than two weeks to come up with a restructuring plan that would justify giving them tens of billions of taxpayer dollars and ensure that they have a reasonable path back to profitability. We hope it is a good plan, because the lame-duck Congress does not have a choice.

We will see if something gets done about Detroit and the Big 3 automakers. I have mixed emotions about the whole thing, but right now I think of this quote: “If your daughter falls out of a tree, you don’t stop to lecture her on climbing trees, you take her straight to the hospital.” Well clearly the Big 3 need a long stay in the infirmary, we shall see if that comes to pass.

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