Reply #12: My belief is that the only way we save the jobs is through a new, clean entity.

[TexasObserver]

There's going to be some down time, and the objective should be to minimize that down time.

Pelosi has misstated the facts of bankruptcy. Chapter 11, which intends reorganization, takes a long time, but this should be a Chapter 7 liquidation. It's a funeral for the unsecured creditors, and the death knell of all the contracts with the soon to be dead company.

The secured creditors get their assets, or a chance to sell them as a package to a new buyer financed by the USA, and whatever the new buyer pays is split in court among the various claimants.

I see no point in keeping the same ownership, the same management, and the same union contracts. All parties are going to have to take less than they want, because they're ridden a loser company into the ground.