"History is a wonderful thing, if only it was true"

Monday, April 27, 2009


Federal Government to own more than 50%
Hope Congress doesn't start deciding models to make, plants to keep/close.

G.M.’s Plan Includes More Aid and Debt Exchange - NYTimes.com

"By exchanging stock for its bonds and by converting its debt to the Treasury Department and to a retiree health care fund for the United Automobile Workers union, G.M. said it can eliminate $44 billion in debt. The Treasury and the U.A.W. would own up to 89 percent of the company’s outstanding shares, while bondholders would hold no more than 10 percent and current shareholders would hold 1 percent."

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