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but....bankruptcy doesnt mean stopping business. im no expert but, "In chapter 11, in most instances the debtor remains in control of its business operations as a "debtor in possession", and is subject to the oversight and jurisdiction of the court.[1] The court can grant complete or partial relief from most of the company's debts and its contracts. Sometimes, if the business's debts exceed its assets, then at the completion of bankruptcy the company's owners all end up without anything; all their rights and interests are ended and the company's creditors are left with ownership of the newly reorganized company."
there are a bunch of ancillary benefits for having chp. 11. bailout money might give the big 3 a second chance, but also means perpetuating legacy contracts with UAW and retirees. the bailout money wont 100% be used to make the cars better or the company run more efficient. i guess no one will know if the bailout money actually benefits the company, but change will come a lot slower.
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