This is the first part of the first episode of the Terminator Salvation: The Machinima courtesy of NotYourFriend99inc, see their channel for the rest of the episode….
We have already given GM 19 billion….
Update – GM on the Brink – Bondholders turndown equity/debt exchange- Hourly Buyout Offer 140k- Bloomberg
Bondholders Steer GM’s Fate – GM is Offering Bondholders 10% Stake for $27 Billion in Debt (Bloomberg News)
At the end the analyst notes the promise not to strike til 2015 by GM, since they will be running the company I can see how a strike would be somewhat awkward….
Bondholders turned down the IMO insulting offer on the debt/equity exchange
…”The participation (in the bond exchange) is very small,” one of the sources said. “Everyone realizes this is going to bankruptcy court.”
Most of the bondholders expect GM to file for bankruptcy some time between the expiration of the tender offer and before June 1, the sources said….
…The UAW agreed to take 17.5 percent of common stock in a restructured GM, a person familiar with the terms told Reuters. The union would also be paid $6.5 billion in preferred stock and would be granted a $2.5 billion note….
…As part of the plan, GM will offer buyouts to all UAW employees. Workers with 20 years or more will be offered $115,000 and a $25,000 voucher toward purchase of a new GM vehicle…
Hanging by a Moment – Lifehouse
CA Supreme Court upheld Prop 8, and the 18k same sex marriages performed before Prop 8 also upheld, protests have begun…
Gabe has ruling details over at AceHQ:
…Alright, I managed to download a copy of the decision. You can find it here at the Court’s website if it works (PDF). (You might have better luck right clicking and “save as” than just clicking over there.)
The decision is 185 pages long. It’s going to take a minute or two to digest. The gist is that Prop 8 is a constitutional amendment, not a constitutional revision (which would have had to go through the legislature). However, because Prop 8 did not explicitly apply retroactively to invalidate existing marriages, the 14,000 (now reported as 18,000) gay marriages lawfully performed before Prop 8 passed are still valid.
The decision was 6-1. A single justice wrote that Prop 8 worked such a sweeping change in rights that it constitutes a constitutional revision.
No justice agreed with AG Brown’s argument that citizens cannot amend the constitution if the judiciary interprets the amendment to conflict with the existing constitution….