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Friday Excuse to Go Home Early and Drink: Michigan Attorney General Asks Carmakers to Declare Bankruptcy in Michigan


Friday Excuse to Go Home Early and Drink: Michigan Attorney General Asks Carmakers to Declare Bankruptcy in Michigan

As GM and Chrysler speed toward what seems like certain bankruptcy filings, Michigan’s Attorney General Mike Cox has sent letters to both of them asking that if they do file for bankruptcy, to please do it in Michigan.

This is bizarro world. It used to be that states fought over the ability to have factories within their borders now they are fighting over the right to have first shot at the carcass of these once proud and vaunted companies. Strange days indeed.

Cox’s reasoning on this request is that the state and many creditors located in the state would be put through the undue financial hardship of having to travel to other states (like New York or Delaware) if the court proceedings were to happen there.

One bourbon, one shot, and one beer.

Here’s a link to the Detroit Free Press news story with the details on this thoroughly depressing story.


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