MCI

[Arnie MC-5]

 
I found this on CJOB Radio "on line" news...  this should put everyone's mind at ease...

Motor Coach Emerges From Chapter 11

4/21/2009

Motor Coach Industries Inc. says it has emerged from chapter 11 bankruptcy protection in the United States and has a new majority owner. MCI says in a statement that a federal bankruptcy court approved a reorganization plan on Jan. 28.
MCI filed for chapter 11 bankruptcy protection in September.

A spokesman for the bus manufacturer says it has obtained a $230 million credit line. The company says its new majority owner, Franklin Mutual Advisers, converted $200 million of debt into equity. MCI says it also got a $155 million loan from a group of lenders.

Arnie

[busshawg]

we've sold our souls, seems like everyone is running on a huge amount of credit, even after they have deemed most of the companies unprofitable. How is this all going to end?

[BG6]

we've sold our souls, seems like everyone is running on a huge amount of credit, even after they have deemed most of the companies unprofitable. How is this all going to end?

You may be glad that your home is mounted on shock absorbers.