If memory serves me correctly, the bankruptcy protected GM from having to repair the defective rear suspension on the Impala a number of years ago also.
Another reason our government should not own private companies.
Didn’t the tax payers own GM from 2009?
IF GM doesn’t step up to the plate and RESOLVE every case affected by this defect, whether it’s PRE bankruptcy OR POST bankruptcy, NO ONE will EVER trust GM to do what is right ever again! I think the death knell will be sounding AGAIN with NO help from Obama!
To Bob – - Seems to me the same thing was said of Ford in the mid-80′s and Toyota seems to be faring pretty well right now after taking a big hit for their “unintended acceleration” issues. Not sure that sounding the death knell for GM is really the path to take right now. Might actually be time to watch the stock as it drops temporarily and invest when it has hit bottom. They (automakers) seem to be able to recover over time.
Even if the stay in litigation ordered by the bankruptcy court seems unfair; it seems that the order protecting GM from claims needs to stay in place if we are to try and return to having a “rule of law”. I was not a fan of the way this bankruptcy was handled at the time and believe a case can be made that GM did not fully disclose its potential liabilities to the court—but doubt that would have made any difference in how the litigation was handled or resolved.
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