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<blockquote data-quote="its_bacon12" data-source="post: 5974627" data-attributes="member: 558729"><p>GM announced today they'll be heading to bankruptcy court. Couldn't seal the deal on the offer to the bondholders for $0.04 on the dollar with a 10% equity stake. Can't blame those bondholders of $27 billion.</p><p></p><p>UAW secured a 17.5% stake for health care funds. How they thought bondholders would take 10% is beyond me.</p><p></p><p>An earlier arrangement by the Treasury had the UAW at 39% equity, the Gov't at 50% and the rest up for grabs among bondholders. That got shot down pretty quickly</p></blockquote><p></p>
[QUOTE="its_bacon12, post: 5974627, member: 558729"] GM announced today they'll be heading to bankruptcy court. Couldn't seal the deal on the offer to the bondholders for $0.04 on the dollar with a 10% equity stake. Can't blame those bondholders of $27 billion. UAW secured a 17.5% stake for health care funds. How they thought bondholders would take 10% is beyond me. An earlier arrangement by the Treasury had the UAW at 39% equity, the Gov't at 50% and the rest up for grabs among bondholders. That got shot down pretty quickly [/QUOTE]
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