While I realize the magnitude of the bankruptcy process for an organization as complex as the auto companies, I too believe it can be done in an reasonably organized way. A pre-packaged deal would be a good first step that would then have to be modified as it progressed. A pre-packaged deal could address the warranty issues that would deter buyers. If the pre-packaged deal would include some warranty protection - even if by the Fed - then buyers might not balk as much. I think the only way to eliminate the cripiling contractual obligations they have to the unions and retirees is to use the bankruptcy process. If they get a bail out and no restructuring, we will be re-visiting this issue soon and it will not be solved.
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