TomServo92 Posted May 28, 2009 Share Posted May 28, 2009 Link Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 28, 2009 Share Posted May 28, 2009 (edited) The GM proposal requires bondholders to forgive about one-fifth of GM’s $27 billion debt in exchange for a 10 percent share in the restructured, post-bankruptcy GM tentatively referred to by the automaker as “New GM.” To sweeten the deal, GM has offered its bondholders warrants to receive an additional 15 percent of the company in exchange for helping facilitate a speedy bankruptcy sale process. News reports indicate that an influential group representing 20 percent of GM’s shareholders have agreed to the deal. Sometimes playing chicken with the steam roller works, other times you should run...... Edited May 28, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
Mark B. Morrow Posted May 28, 2009 Share Posted May 28, 2009 (edited) The details are still a little fuzzy. The new deadline is 5:00 p.m. on Saturday. http://www.huffingtonpost.com/2009/05/28/g...l_n_208625.html Edited May 28, 2009 by Mark B. Morrow Quote Link to comment Share on other sites More sharing options...
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