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GM Loves Bankruptcy

by Laura Conaway
Jun 10, 2009

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Laura Conaway

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On today's Planet Money:

— Bankruptcy is a wonderful tool, says GM CFO Ray Young, whose company is now in Chapter 11. And hey, it went so well for Chrysler.

— If you happen to be one of the jilted creditors, bankruptcy doesn't seem quite so wonderful. Clown Mandy Dalton says a mall operator that went bust still owes her $200 for a family fun day. She talks it over with bankruptcy lawyer Jay Strock.

Bonus: Twitter crowd lobs questions at GM CFO Ray Young, after the jump.

Download the podcast; or subscribe. Intro music: Dirty Projectors' "Cannibal Resource." Find us: Twitter/ Facebook/ Flickr.

Adam Davidson and I asked people on Twitter if they had questions for GM CFO Ray Young. He agreed to answer them, including that bedeviling one about why the company saves money by closing dealerships.

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