I am a lawyer, but this is not legal advice. If you need that, pay for it.
>The purchaser would have assumed all of GM's liabilities.
No, it wouldn't. That's just plain *wrong* and has no basis in the real world.
You're not as far off with:
>Of course, the sale price would have been set to reflect the costs of these liabilities.
Without the government intervention, GM would have been liquidated, probably in Chapter 11, but possibly in 7. The assets would have been purchased for the best price that could have been obtained, and the creditors (including environmental cleanup) paid pro rata. Some claims (priority claims) would be paid before others.
When a third party bought an asset, whether it be an engine patent or a manufacturing plant, it would take it *without* being liable for GM's liabilities. Whether the assets were sold individually or as a lot would depend upon which way the better total price could be obtained.
Let's face it, with assets of $1T and liabilities of $2T (made up figures), noone would buy it, not even for $1 (goodwill & future sales based upon the past are included in assets here). You just couldn't sell it, and the creditors would receive nothing. They're better off with the assets being sold for what could be obtained.
The real screwy part here is that the pension plans come out smelling like roses. They'd have received nothing in a liquidation, but with this plan they're getting pretty much everything they're owed, unlike the rest of the creditors, who get pennies on the dollar. The secured creditors, those whose loans were backed by assets, are getting quarters on the dollar, whereas the shareholders--the ones who owned GM--have been completely wiped out (as they should be).
That's OK. Neither did the slashdot editor, the submitter, or even the headline writer for the article.
He *actually* wants to know who the paid subscribers to the Wall Street Journal through the Kindle are, and is unhappy that amazon treats them as its subscribers rather than his.
I am an attorney, but this is not legal advice. Pay for it if you need it.
I've always been amazed at the post-bankruptcy flood of credit offers. But then, you're years from filing again.
However, it is *not* clear that the debt would be discharged in bankruptcy. Debts for "intentionally caused harm" are not discharged, and given the specific intent involved in file-sharing, it is at least arguably covered. The issue hasn't been litigated yet, and I can see it coming down either way . . .
I am an attorney, but this is not legal advise. If you need that, pay an attorney licensed in your jurisdiction.
Actually wage garnishment is a joke in most instances. They can't garnish your wages if they don't know where you work.
So far, so good.
You aren't obligated to help them find out where you work.
Welcome to the real world.
Judgment will be followed by a judgment debtor's examination, at which you will answer under oath questions about your assets, and where you work.
Don't answer, or lie, and there's a cell waiting for you for contempt.
Dodging a judgment, while doable, is non-trivial.
That's problem number one for them. Problem number two is that a civil judgment is generally last in the priority list for wage garnishment. Child support, alimony and taxes come ahead of it -- and if they exceed a certain percentage of your income (garnishments are generally limited to 10-15% depending on state) then there's nothing left for the civil judgment to garnish.
Yes, that means those with child support arrearages and back taxes don't have additional consequences.
BTW, 25%, not 10-15%, is the typical wages cap.
There's also at least four states that don't allow civil wage garnishment. Texas, North Carolina, South Carolina and Pennsylvania.
At least for certain items, including taxes, PA allows garnishment of wages without the inconvenience to the creditor of obtaining a judgment.
Venus, however, is practicing shooting down satellites & space ships. Given their atmosphere, however, the ground-based laser lights up the clouds, and is visible from adjacent planets . . .
I have a Brother 845CW. It's great that it provided linux drivers, but they are ghostscript based, and if I want to print a photo, it actually takes less time to reboot into windows . . .
Even printing text causes long pauses before the first page, and more before each additional page.
Apparently, the CIA has actually forced captured Taliban to use emacs to write code. By the end of the second day, they ask for their waterboards back . . .:)
As people are finding out as they look closer at Economics. Economics breaks down because it is based on ideal knowledge conditions. Even half baked knowledge conditions do not exist in most cases. Economics fails because purchase decisions are subject to information gaps and information war.
Huh?
Perfect information gives perfect markets, but only minimal information required for a market to clear.
Economics hardly "breaks down" or "fails" in the circumstances you describe, although "market failure"--the failure of the market to achieve the optimal price and quantity--occurs. Generally, this occurs in a rather predictable manner.
Even insider information doesn't break down markets, unless it is so prevalent that it keeps a substantial fraction of the people out of the market. Rather, it reallocates the gains (in an unproductive manner, which we also find unfair).
hawk, wearing his economics professor hat for the moment
>Err, no. The United States of America votes for a president.
Er, no, we don't.
Polls are to close on the Tuesday following the first Monday of November *for the House of Representatives* (and now, for the Senate as well).
It *happens to be the case* that currently all 50 states use elections on that particular day to choose the states *electors* that choose the president. Most, if not all, list the name of the candidate that the electors have pledged to support instead of or in addition to the names of the electors for whom the voters are voting.
There is absolutely *no* requirement that presidential elections be held in a state. The legislature of a state (not the state government in general, nor the state constitution), for example, could choose to appoint the states' electors itself (this used to be the norm; I don't know when it was last done). Or it could have an election, but do it on another day. In fact, it could do almost anything to choose them that did not discriminate on the basis of national origin, religion, race, or gender.
The postal system is written entirely in bash or something gcc understands, rather than using X, perl, or any of the other inclusions we normally mean when we refer to an operating system as "Linux."
Yeah, right.
The next time I see a machine running a Linux kernel and GNU utilities, without the other things we presume when we refer to a "Linux" operating system (such as, say, network connectivity or mail), will be the first.
It is *far* more likely that the linux (kernel) folks will come up with a tool chain (say, by using the FreeBSD chain, which is permitted by its free license) than for the GNU folks to come up with a kernel and the other things (see above) needed to call something an OS rather than a bunch of tools.
I am a lawyer, but this is not legal advice. If that's what you need, pay me.
More hyperbole & red meat for the believers.
This is not a decision to take away the issue from a jury, but rather the judge noting a conflict between binding caselaw and what other judges have done.
These *are* rather high profile cases, and a judge being hyper-careful is hardly surprising. In fact, it's encouraging.
When I initially saw it, I also shrugged, assuming that the decision was based on lack of sufficient eveidentiary showing to send it to a jury (which still wouldn't surprise me--the fair use notion strikes me as far-fetched [that has nothing to do with what would be a *good* policy, simply what current law *is*]).
When I lived in western PA i could tell when it was deer season by the number of banged up vehicles--although I never heard of a serious injury from them.
Slashdot Mirror
I am a lawyer, but this is not legal advice. If you need that, pay for it.
>The purchaser would have assumed all of GM's liabilities.
No, it wouldn't. That's just plain *wrong* and has no basis in the real world.
You're not as far off with:
>Of course, the sale price would have been set to reflect the costs of these liabilities.
Without the government intervention, GM would have been liquidated, probably in Chapter 11, but possibly in 7. The assets would have been purchased for the best price that could have been obtained, and the creditors (including environmental cleanup) paid pro rata. Some claims (priority claims) would be paid before others.
When a third party bought an asset, whether it be an engine patent or a manufacturing plant, it would take it *without* being liable for GM's liabilities. Whether the assets were sold individually or as a lot would depend upon which way the better total price could be obtained.
Let's face it, with assets of $1T and liabilities of $2T (made up figures), noone would buy it, not even for $1 (goodwill & future sales based upon the past are included in assets here). You just couldn't sell it, and the creditors would receive nothing. They're better off with the assets being sold for what could be obtained.
The real screwy part here is that the pension plans come out smelling like roses. They'd have received nothing in a liquidation, but with this plan they're getting pretty much everything they're owed, unlike the rest of the creditors, who get pennies on the dollar. The secured creditors, those whose loans were backed by assets, are getting quarters on the dollar, whereas the shareholders--the ones who owned GM--have been completely wiped out (as they should be).
hawk, esq.
Police shooting training is changing, too.
They've come to realize that when a cop actually has to use a gun, it's at extreme close range.
hawk
*Whatever* you do, do not let the WSJ have your email address.
You will get bombarded with "offers" for *everything* that Dow Jones (and now probably fox) publishes.
Every week or two.
It took me years to get rid of, as they didn't really process their removals . . .
hawk
That's OK. Neither did the slashdot editor, the submitter, or even the headline writer for the article.
He *actually* wants to know who the paid subscribers to the Wall Street Journal through the Kindle are, and is unhappy that amazon treats them as its subscribers rather than his.
hawk
but is this really any different than the google "I feel lucky" result for "french military victories"?
hawk
That is similar to the chapter 13 reorganization in the US. It is harder to qualify for the chapter 7 liquidation.
hawk, esq.
I am an attorney, but this is not legal advice. Pay for it if you need it.
I've always been amazed at the post-bankruptcy flood of credit offers. But then, you're years from filing again.
However, it is *not* clear that the debt would be discharged in bankruptcy. Debts for "intentionally caused harm" are not discharged, and given the specific intent involved in file-sharing, it is at least arguably covered. The issue hasn't been litigated yet, and I can see it coming down either way . . .
hawk
I am an attorney, but this is not legal advise. If you need that, pay an attorney licensed in your jurisdiction.
Actually wage garnishment is a joke in most instances. They can't garnish your wages if they don't know where you work.
So far, so good.
You aren't obligated to help them find out where you work.
Welcome to the real world.
Judgment will be followed by a judgment debtor's examination, at which you will answer under oath questions about your assets, and where you work.
Don't answer, or lie, and there's a cell waiting for you for contempt.
Dodging a judgment, while doable, is non-trivial.
That's problem number one for them. Problem number two is that a civil judgment is generally last in the priority list for wage garnishment. Child support, alimony and taxes come ahead of it -- and if they exceed a certain percentage of your income (garnishments are generally limited to 10-15% depending on state) then there's nothing left for the civil judgment to garnish.
Yes, that means those with child support arrearages and back taxes don't have additional consequences.
BTW, 25%, not 10-15%, is the typical wages cap.
There's also at least four states that don't allow civil wage garnishment. Texas, North Carolina, South Carolina and Pennsylvania.
At least for certain items, including taxes, PA allows garnishment of wages without the inconvenience to the creditor of obtaining a judgment.
hawk, esq
The original black Barbie doll was a miserable failure. Black girls still wanted white Barbies.
The developers had cleverly given her African hair.
Turns out, playing with the hair was part of the big deal.
Black Barbie was then given long straight hair, and sold well.
hawk, avoiding discussing the mental deficiencies of those who think girls get self-image from toys
Both of those terms are odd choices for a reference to Perelandra . . .
hawk
Jupiter was merely hit by an asteroid.
Venus, however, is practicing shooting down satellites & space ships. Given their atmosphere, however, the ground-based laser lights up the clouds, and is visible from adjacent planets . . .
hawk
Oh, yes. The same people are in control of IBM today as were sixty years ago.
hawk
I have a Brother 845CW. It's great that it provided linux drivers, but they are ghostscript based, and if I want to print a photo, it actually takes less time to reboot into windows . . .
Even printing text causes long pauses before the first page, and more before each additional page.
Apparently, the CIA has actually forced captured Taliban to use emacs to write code. By the end of the second day, they ask for their waterboards back . . . :)
hawk
See? If I can remember VT-100s with green screens, people have a hope at remembering vista having pleasant things.
Of course, they need to wait another 25 years . . . :)
hawk
Their text was such a pretty green color, and they could scroll text pixel-line by pixel-line instead of by text rows (or was that just the VT-102?).
I suppose that one could have a similar reminiscence for the vista background color . . .
hawk
But . . .
I was impressed with their indirect method of seeing whether other males attacked.
It does, though, leave a question as to the females of the species.
For example, if the females fly after the invading males . . .
hawk
The election was rigged per se.
Merely *holding* the election was illegal and in violation of the law. This was settled by law, and in courts.
This was not a "coup" by the lawful government, but rather the lawful government thwarting a coup by the president . . .
hawk
As people are finding out as they look closer at Economics. Economics breaks down because it is based on ideal knowledge conditions. Even half baked knowledge conditions do not exist in most cases. Economics fails because purchase decisions are subject to information gaps and information war.
Huh?
Perfect information gives perfect markets, but only minimal information required for a market to clear.
Economics hardly "breaks down" or "fails" in the circumstances you describe, although "market failure"--the failure of the market to achieve the optimal price and quantity--occurs. Generally, this occurs in a rather predictable manner.
Even insider information doesn't break down markets, unless it is so prevalent that it keeps a substantial fraction of the people out of the market. Rather, it reallocates the gains (in an unproductive manner, which we also find unfair).
hawk, wearing his economics professor hat for the moment
>Err, no. The United States of America votes for a president.
Er, no, we don't.
Polls are to close on the Tuesday following the first Monday of November *for the House of Representatives* (and now, for the Senate as well).
It *happens to be the case* that currently all 50 states use elections on that particular day to choose the states *electors* that choose the president. Most, if not all, list the name of the candidate that the electors have pledged to support instead of or in addition to the names of the electors for whom the voters are voting.
There is absolutely *no* requirement that presidential elections be held in a state. The legislature of a state (not the state government in general, nor the state constitution), for example, could choose to appoint the states' electors itself (this used to be the norm; I don't know when it was last done). Or it could have an election, but do it on another day. In fact, it could do almost anything to choose them that did not discriminate on the basis of national origin, religion, race, or gender.
hawk, esq.
Ahh. I see.
The postal system is written entirely in bash or something gcc understands, rather than using X, perl, or any of the other inclusions we normally mean when we refer to an operating system as "Linux."
Yeah, right.
The next time I see a machine running a Linux kernel and GNU utilities, without the other things we presume when we refer to a "Linux" operating system (such as, say, network connectivity or mail), will be the first.
It is *far* more likely that the linux (kernel) folks will come up with a tool chain (say, by using the FreeBSD chain, which is permitted by its free license) than for the GNU folks to come up with a kernel and the other things (see above) needed to call something an OS rather than a bunch of tools.
hawk
I am a lawyer, but this is not legal advice. If that's what you need, pay me.
More hyperbole & red meat for the believers.
This is not a decision to take away the issue from a jury, but rather the judge noting a conflict between binding caselaw and what other judges have done.
These *are* rather high profile cases, and a judge being hyper-careful is hardly surprising. In fact, it's encouraging.
When I initially saw it, I also shrugged, assuming that the decision was based on lack of sufficient eveidentiary showing to send it to a jury (which still wouldn't surprise me--the fair use notion strikes me as far-fetched [that has nothing to do with what would be a *good* policy, simply what current law *is*]).
hawk, esq.
>But what kind a dollar is a "trillian" ?
quite obviously, the kind that Zaphod uses to leave a tip!
hawk, looking for his towel
When I lived in western PA i could tell when it was deer season by the number of banged up vehicles--although I never heard of a serious injury from them.
hawk
The "alcohol related" figure in the US is also a phony statistic.
If a bad driver plows through a red light at 80mph and kills someone with a .01 BAL, it is reported as "alcohol related".
It would be great to have a figure for the the portion of fatalities in which the *cause* is alcohol related, but it just doesn't exist :(
hawk