Monday, March 30, 2009

Obama's tough auto stance may include bankruptcy

 

With about $28 billion in debt to bondholders, the GM offer would translate into $2.2 billion in cash, $4.3 billion in debt and an additional stock-based payout in a recapitalized company that would all but wipe out current stockholders.

Click on the following to read the story:

Obama's tough auto stance may include bankruptcy

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