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The car companies probably wouldn't close overnight. Like the airlines, they would go to bankruptcy court. This would most likely wipe out existing share owne
by kqr2 18y ago
The car companies probably wouldn't close overnight. Like the airlines, they would go to bankruptcy court. This would most likely wipe out existing share owners, however, contracts could be renegotiated to try and resurrect it and raise new capital. A healthier company, such as Toyota could also step in and buy some of the assets.
- run4yourlives 18y ago>This would most likely wipe out existing share owners Which is probably about 80% of all investors in the market, btw. It would also render insolvent all their existing pensioners retirement funds, as well as every loan that GMAC finances... Not something anyone would be thrilled to deal with.