Chrysler, which had teetered on the brink of bankruptcy in the mid-1990s, came with a reputation for not always firing on all cylinders.
ECONOMIST: Schrempp runs out of road | The
2.
When Thain took over four months after the CIT bankruptcy his move was seen as a way to restore his own reputation.
FORBES: John Thain Is Bullish On CIT Group, Shells Out $1.2 Million For Shares
3.
Once in Chapter 11 bankruptcy the unions would have less clout and GM might suffer greater costs (for example to its reputation, and with consumers even less willing to buy the cars).
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