McCain Let General Motors go in the Chapter 11

Posted on Tuesday, 10 March 2009 , 15:03:56 byEmil

Filed under gmmccaingeneralmotorschapter11GM

McCain Let General Motors go in the Chapter 11

Arizona John McCain ex presidential candidate and senator affirmed, though he's so pleased seeing the Obama campaign getting actively involved on the fledgling U.S car industry, he affirms that GM should be now forced on going in the bankruptcy and be the subject to a hard, thorough restructuring.

'I think the best thing that could probably happen to General Motors, in my view, is they go into Chapter 11, they reorganize, they renegotiate … the union-management contracts and come out of it a stronger, better, leaner, more competitive automotive industry' said McCain affirmed on 'Fox News Sunday'.

McCain said also he is concerned the Timothy Geithner-led automotive panel poses a 'dearth' of industry experienced people.