Blog: Dave LeggettBrinkmanship or has patience finally run out?

Dave Leggett | 16 February 2009

I would imagine things must be getting fraught in some of the negotiations taking place in the US. All parties must be feeling pretty weary after all that's gone on. And it has suddenly become a lot less clear that Chapter 11 would be any worse than the alternative. Even the UAW guys could be forgiven for thinking that a debt-for-equity settlement is now impossible to sell to their members and that they are at least off the hook if it's with the courts.

Is there still a deal for GM outside Ch 11 that gets a better outcome than would result from the Ch 11 course? Maybe, but anyone around a negotiating table yet again, and that is stuck once more, could be forgiven for thinking, 'let's just get on with it and move the process on'.  

US: GM considers bankruptcy option – report


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