"The reason you get reorganization after an amputation, for example, is that you've just put into unemployment a section of the somatosensory cortex," he says.
Parliament tried to block Yuan's effort to get a "reorganization loan" (face value $125 million) from a consortium of foreign banks, but in April Yuan concluded the negotiations and received the loan.
"I think Rumsfeld is saying, 'Let me start with the structure, let me see if I can get this reorganization done so we can move to phase 2, which may be developing the defense capability to knock out some of these enemy satellites,' " said Senator Robert C. Smith, a Republican from New Hampshire who sits on the Armed Services Committee.
But getting a confirmed reorganization plan in place before the end of the year seems unlikely, said Michael Thaman, Owens Corning's chairman and chief financial officer.
The process "makes the dealers whole and puts them at the head of the line in terms of getting paid" during reorganization, said Rachel Rosenblatt of FTI Consulting, a Suzuki representative.
News from today's Yahoo executive meeting confirms our earlier story that the company is getting a major reorganization in terms of structure and management.
Under the company's reorganization plan, bondholders are getting all of the reorganized company's shares in exchange for relinquishing their claims.
The investment depends on NextWave's completing a bankruptcy reorganization and getting the frequencies "free and clear," a Qualcomm spokeswoman said.
Even as Mr. Bush was speaking, Congressional leaders began grappling with the mechanics of getting such a complex reorganization through Congress this session.
The uncertainty in this reorganization is getting the banks to renew the credit lines.
