GM Gets To Dump Its Polluted Sites

ParticleGirl writes with this excerpt from the Detroit Free Press: "GM's unusual, government-engineered bankruptcy allowed the Detroit automaker to emerge as a new company — and to shed billions in liabilities, including claims that governments had against GM for polluting. Environmental liabilities estimated at $530 million were left with the old GM, which has only $1.2 billion to wind down. Administrative fees and other claims will soak up that money, and state and local officials told the Free Press they fear the cleanups will be shortchanged. ... The New York Attorney General's Office, seeking to protect environmental claims for cleanup at Massena and other sites, argued that federal and state regulatory requirements should not be eliminated by a bankruptcy sale. ... But [US Bankruptcy Judge Robert Gerber] ruled otherwise."

Comments

Re:The road to hell...

[FooAtWFU]

The road to hell is paved with good intentions

If you look it up, that's actually a shovel-ready infrastructure project that's part of the stimulus package!!

Re:Here is a Reason Why the Free Market Works Best

[Daniel Dvorkin]

Barack Hussein

Thanks for letting me know when I could stop reading your post.

Presumably GPP thinks John Sidney McCain III would have done better. ;)

Re:The road to hell...

[Mr. Arbusto]

What you say reminded me of a product poster at Depair

http://despair.com/government.html

Re:Both GM and Chrysler were handle poorly

[The Grim Reefer2]

The jobs saved are easily identifiable and politically connected, while the compensating jobs lost are not. The vast majority of the jobs saved will probably be lost in a few years, so the net is a huge loss.

It's OK, as long at the jobs are lost after the next election, that is the important thing. [/sarcasm]