BMW to exit Formula One at end of 2009 season
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07-31-2009, 06:16 PM
Drives: E46 M3
Join Date: Nov 2007
Originally Posted by
When your debt exceeds your assets that defines bankruptcy.
Really?? First off all dude, debt can never exceed Assets on a Balance Sheet unless you have Negative Equity !!!
Bankruptcy is defined when a business is no longer viable as an ongoing concern... It has to do with FUTURE revenues and FUTURE ability to service your debt... Porsche is VERY VERY much a going concern, and nowhere near bankruptcy, they are just playing control games with VW.. It's all in the family anyway... Don't post B/S please
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