GM reaches deal with bondholders!!

[Tran]

General Motors said in a regulatory filing on Thursday that it has reached a deal with a committee representing many of its largest bondholders, who agreed not to oppose the carmaker’s reorganization in exchange for up to a 25 percent stake in a new G.M.

http://dealbook.blogs.nytimes.com/20...der-committee/

[paulv7260]

Very positive news.

[Splitter]

Originally Posted by paulv7260

Very positive news.

In very negative times.

[Brokinarrow]

[GMtothecore]

sounds like things are rollin'

[IROCanSS]

Originally Posted by GMtothecore

sounds like things are rollin'

I just hope cars keep rollin down the assembly line!

[arozar]

That's not good news, the government gets 72.5%, and is providing 50 bill in financing!! The government dose not have money, that is our money!!! What the hell is good about that? If I wanted a government made vehicle I would move to Venezuela..... If you need government assistance, then close your doors. My kids and grand kids don't even get a say in the debt they will have to pay back. We are headed down the wrong path, for what?? A Camaro!!!! What would Ben Franklin think of this.(rolling over 100X).

[canadianiroc]

http://www.thestar.com/business/article/641535

[IROCanSS]

Originally Posted by arozar

That's not good news, the government gets 72.5%, and is providing 50 bill in financing!! The government dose not have money, that is our money!!! What the hell is good about that? If I wanted a government made vehicle I would move to Venezuela..... If you need government assistance, then close your doors. My kids and grand kids don't even get a say in the debt they will have to pay back. We are headed down the wrong path, for what?? A Camaro!!!! What would Ben Franklin think of this.(rolling over 100X).

You think the gvt is doing this to save the Camaro? I doubt they care about the Camaro... They are trying to save a lot more than the Camaro.

[MontyCarlo]

What was the initial plan? 10% share for the bondholders, wasn't it? This seems more fair.

[2010SSRS]

so.........how does this effect the bankruptcy?

and so we're clear..............GM now stands for "Government Motors"....

[GTAHVIT]

Sorry guys but I have to say it. So far so good but leave out Party Politics... We have a very strict policy and don't tolerate it.

[DustinK]

Originally Posted by jrhaus76

You think the gvt is doing this to save the Camaro? I doubt they care about the Camaro... They are trying to save a lot more than the Camaro.

QFT.

There is MUCH more at stake than the Camaro. Countless jobs rely on the nation's auto industry. The ripple effect that would be caused by GM, or any of the US automakers closing their doors would be felt everywhere. I think you'd be hard pressed to find anyone would wouldn't personally know someone who would be affected by that happening.

Now, obviously bankruptcy doesn't mean shutting their doors for good -- but it's a step in the wrong direction that would still have a large impact on the economy -- and many individuals.

[arozar]

Originally Posted by jrhaus76

You think the gvt is doing this to save the Camaro? I doubt they care about the Camaro... They are trying to save a lot more than the Camaro.

No I don't think think that they give a rats ass about the Camaro, I'm saying that's all we seem to care about, what about the future for many generations to come?? If GM was to close there doors it would suck for a short time period, but do you think that would be the end of it, no more jobs forever? No! You know that some of the execs would start a new company with out all of the BS that GM is involved in now. The down turn would not be forever, but I don't think that the government should be involved, let the market decide. You can not have all of the legacy costs that GM has and survive, propping up a house of cards, is still just a house of cards.