Are they really that stupid?
His reasoning was less than stellar.
He compared the auto industry to the airline industry by asserting that an airline in Chapter 11 can still fly planes and still sell tickets but people won't want to buy a car from a car company in Chapter 11 because of a fear of an inability to get parts and/or repairs later.
Here's a page listing on line sources for parts for a 1952 Studebaker.
And you won't even have to get a cash advance to buy a rebuilt starter for a 1952 Studebaker.