CurAegis Technologies Inc (fka CRGS)

[Leitrim]

From Automotive Digest..
Seriously what the heck would 10 Billion do for GM at this point..??? Ford started to turn back to shore a little earlier..Historic stuff in any case..I filled up today on w Henrietta Kwik Fill for $1. 68..That may have helped them some..but costs are were outta whack for too long..

"GM Hires A-Team Preparing for Bankruptcy after Senate Rejects Loans"
Situation
* GM and Chrysler claim they will be out of funds by end of 2008
* Senate test vote rejected providing $14B in federal loans for GM and Chrysler
*Southern Republicans where non-UAW, foreign automakers operate led opposition
*Republicans insisted on restructuring and immediate wage, benefit cuts from UAW
*Bush has so far refused to allow $700B for bank bailout to go to automakers
*Loan approval failure may lead to largest bankruptcy filings in US history

Significance
*GM hired lawyers and bankers to consider whether to file for Chapter 11 bankruptcy
*Reported team biggest players in bankruptcy
Harvey Miller worked on Lehman Brothers Holdings, Bethlehem Steel bankruptcies
*Others include Jay Alix and William Repko and Martin Bienenstock (Enron bankruptcy)
*Arthur Newman focused on GM's multi-billion-dollar VEBA retiree health care funds
*Saturn may go into bankruptcy separately or be eliminated completely