bad bad news for us car guys!
http://www.wbko.com/pressreleases/headlines/15559727.html

Seems like filing Chapter 11 is the latest trend in business. I got stung by one a few weeks ago. Basically, the debtor gets fcked ( I did anyway) and the business buys itself some time to downsize in an attempt to become financially solvent. They (one of my customers who recently filed) got me for a little over 2000.00. I know it isn't a lot, but it still makes you mad.

bad bad news for us car guys!
http://www.wbko.com/pressreleases/headlines/15559727.html

Did you happen to notice the February 2008 date for that article?

I renamed the title as this news item is indeed over a year old.

Doh!!!!!!

On top of it being a year old news reading the article tells you they did it to make the company stronger allowing them to convert assits to capitol and be better positioned for the future... We usually think of going bankrupt as bad news but often it's used as a stratigic business move...