By Michael Ruhl, University of New Mexico – Talk Radio News Service

Paul Ingrassia, former Detroit Bureau Chief of the Wall Street Journal and Pulitzer Prize winner, said that Chapter 11 Bankruptcy may be of long term benefit to companies like GM and Chrysler. According to Ingrassia, bankruptcy could free the companies from contractual obligations which are otherwise overly burdensome to their operations. It would allow these companies to reduce the number of brands and dealers they have without lengthy legal gridlock, which in turn could provide the ability for the auto companies getting back on their feet through a very thoughtful reorganization. (00:48)

 

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