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Thursday, December 11, 2008


gm 30 cents on the dollar plan (gift to shareholders)

I think I am o.k. with the 30 cents on the dollar part of the republican general motors plan.. The part I don't like about it is that I am giving the shareholders something and not getting anything in return.. I want equity (i.e shares) and 30 cents on the dollar where the bonds are reissued and I am for giving the workers shares in exchange for a deal.... bond holders giving a large sum to the stockholders in a way that changes the rules i.e. stocks are worth 0 in bankruptcy bonds are the new owners... completely against that... makes it risky to exchange shares for bonds, in legitimate trades.. I am also for giving the government shares instead of warrants to buy shares... The precedent being the insurance company that was just bailed out..

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