GM And Bankruptcy!

I have no idea why General Motors Corp. is dancing around the fact that bankruptcy is going to happen to them come June 1st. They keep stating that their hoping to restructure without court protection. What I think is happening is that their getting their paper work in order to file for court protection. They have to, there’s no way the deal their trying to do with their debt will work. Their trying to get the bond holders and auto workers union to take 10 percent of the company in exchange for $27 billion debt. Who in their right mind would take that offer. And there’s no way Obama is going to bond holders to agree to it. Just look what happen to Chrysler, the bond holders told Obama no way. So no one be surprise when June 1st comes and General Motors files for chapter 11, it will happen.