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Thread: GM bankruptcy expected as bondholder offer fails

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    GM bankruptcy expected as bondholder offer fails

    Few took the company up on its bond-exchange offer, making bankruptcy very likely within the next week. The government could receive as much as a 70% stake in the company.

    GM bankruptcy expected as bondholder offer fails - Los Angeles Times

    Are we bailing out GM or the bond holders?

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    Re: GM bankruptcy expected as bondholder offer fails

    From the article it appears the bondholders. Apparently these people do not believe in losing in the market. They want their cake and everybody elses.

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    Re: GM bankruptcy expected as bondholder offer fails

    They'll extend the date until the beginning of June, probably. But it will file bankruptcy.

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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by tlmorg02 View Post
    From the article it appears the bondholders. Apparently these people do not believe in losing in the market. They want their cake and everybody elses.
    That or the fact that they are first in line and they are getting pushed to the back and screwed in favor of a UAW payback.

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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by Supamanu View Post
    That or the fact that they are first in line and they are getting pushed to the back and screwed in favor of a UAW payback.
    Not according to the article. It states that they are being offered much more than the UAW and the government.

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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by winston53660 View Post
    Few took the company up on its bond-exchange offer, making bankruptcy very likely within the next week. The government could receive as much as a 70% stake in the company.

    GM bankruptcy expected as bondholder offer fails - Los Angeles Times

    Are we bailing out GM or the bond holders?
    A better question is what happened to all the rhetoric from Obama how he is NOT going to let this industry fail while dumping billions into it?

    The hysterics from the Obama administration roll on. Hey, what about them 5 million new high paying jobs Obama promised? Where did they all go?

    If my math is correct, since he took office the economy has shed over 6 million jobs so that means that in order for him to hold to his empty campaign rhetoric which a gullible voting public swallowed like pigs at the trough, he needs to now create 11 million jobs.


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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by tlmorg02 View Post
    From the article it appears the bondholders. Apparently these people do not believe in losing in the market. They want their cake and everybody elses.
    Your uniformed populist rhetoric aside; the Bondholders didn't like the deal because the UNIONS would have a bigger share without any investment than they would with the newly restructured company. Can't say that I blame them.

    GM's proposal would give bondholders a 10% stake in the automaker, even though they currently own about 40% of the company's debt. The Treasury would get about a 50% stake in GM.

    Under both plans, the UAW would receive about a 40% stake in the company.


    GM's clock is ticking down - May. 22, 2009

    Yeah, that sounds like a GREAT deal to me. What a shocker that they would question such an asinine offer.

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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by Supamanu View Post
    That or the fact that they are first in line and they are getting pushed to the back and screwed in favor of a UAW payback.
    My bad, misread the article.

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    Re: GM bankruptcy expected as bondholder offer fails

    Quote Originally Posted by Truth Detector View Post
    Your uniformed populist rhetoric aside; the Bondholders didn't like the deal because the UNIONS would have a bigger share without any investment than they would with the newly restructured company. Can't say that I blame them.

    GM's proposal would give bondholders a 10% stake in the automaker, even though they currently own about 40% of the company's debt. The Treasury would get about a 50% stake in GM.

    Under both plans, the UAW would receive about a 40% stake in the company.


    GM's clock is ticking down - May. 22, 2009

    Yeah, that sounds like a GREAT deal to me. What a shocker that they would question such an asinine offer.
    Misread the article, my bad, it was the reverse of what I originally thought it said. Rather the Union and government are getting the better end of the deal.

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    Re: GM bankruptcy expected as bondholder offer fails

    Your uniformed populist rhetoric aside...
    Why is the term "populist" a negative. Isn't the government supposed to serve the people.

    pop·u·list (ppy-lst) KEY

    NOUN:

    A supporter of the rights and power of the people
    Oh, I forgot, you only support corporate rights and profits over people.

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