AceHQ: GM Reinvention Commercial Parody…

From AceHQ by way of gmretardation

Vodpod videos no longer available.

more about “AceHQ: GM Reinvention Commercial Paro…“, posted with vodpod

Advertisements

June 8, 2009. Tags: , , , , . Big 3, Comedy, Economy, Entertainment, Finance, Obama Administration, Politics, Popular Culture, TARP. Comments off.

Government Motors: Treasury to take 70% stake in the new GM….

*

Warning NYTimes, Highlights include:

(more…)

May 27, 2009. Tags: , , , , , , . Big 3, Economy, Entertainment, Motown, Music, Obama Administration, Politics, Popular Culture, TARP, Uncategorized, Unemployment Statistics. Comments off.

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….

Vodpod videos no longer available.

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

more about “Update – GM on the Brink – Bloomberg“, posted with vodpod

May 26, 2009. Tags: , , , , , , , , , , , . Economy, Finance, Music, Obama Administration, Politics. Comments off.

GM Bondholders Not Caving – CNBC

Excellent, GM Bondholders will push the rule of law…

Vodpod videos no longer available.

Airtime: Fri. May 1 2009 | 4:29 PM ET

What’s ahead for GM bondholders, with Peter Wallison, fmr. Treasury Dept. general counsel; Don Luskin, Trend Macro; Noam Scheiber, The New Republic; Julian Epstein, LMG; and CNBC’s Larry Kudlow.

more about “GM Bondholders Not Caving – CNBC.com“, posted with vodpod

May 1, 2009. Tags: , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, TARP, Uncategorized, Wall St. 1 comment.

Breaking: WH: TOTUS will Announce Auto Plan Monday…

thehomer

CNBC Chyron; WH announcement: Auto Task Force winding down decisions to be made on aid, announcement to be made by TOTUS Monday

This is fascinating because the debt holders have been LOUDLY complaining they don’t want a cramdown when the union isn’t cramming down to the level Steve Rattner (head of TOTUS’ Auto Task Force) is announcing as a done deal left and right for two weeks..

Also GM has been publicly stating they do not need or want anymore government money, but Rattner has been floating the idea that GM needs billions, more than tens of billions more..

Mr. Rattner dismisses the idea that his team may not have enough auto expertise to tackle the job. “We are not trying to run car companies,” he says. He compares the work to what he and others have done in the private sector. “This is the type of investment decision that many of us on this team are used to making.”

…Mr. Bloom focused on minute aspects of the business strategy, and Mr. Rattner, on how the deal would be structured. People on the Fiat team came away thinking that the task force’s questions betrayed a limited understanding of the industry. “It’s fair to say we walked out of the meeting and were a little unsettled,” says one member of the Fiat team….

…The bondholders’ attorneys laid out the details of a plan to exchange debt for equity, which would reduce pressure on GM to repay the bondholders. As the lawyers walked through a litany of potential challenges, Messrs. Rattner and Bloom took notes, offering minimal commentary, according to people who attended the meeting. Since then, the bondholders committee has had little contact with the task force. Its lawyers say they were surprised two weeks later when Mr. Rattner publicly criticized them for not being flexible enough….

(more…)

March 27, 2009. Tags: , , , , , , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, Wall St. Comments off.

%d bloggers like this: