Apr 30th, 2009 - The Huffington Post
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General Motors bondholders are issuing a counteroffer in response to the debt-for-equity proposal issued on Monday of this week by the Obama administration's auto task force (under the supervision of Steven Rattner). The Monday proposal seeks to furnish the United Auto Workers union (UAW) with $10 billion and a 40 percent ownership stake for the $20 billion debt it is owed.
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GM bondholders to present alternate plan
Apr 30th, 2009 - Reuters
DETROIT (Reuters) - Bondholders will present an alternative to General Motors' just-launched debt-for-equity exchange in a deal that would swap a 51-percent stake in a restructured company for $27 billion (18.2 billion pounds) in debt...
Chrysler Union Members Begin Voting; Accord Likely To Pass
Apr 29th, 2009 - Wall Street Journal
DETROIT (Dow Jones)--Chrysler LLC's United Auto Workers union members began voting Wednesday on a new cost-concession agreement essential to the auto maker's survival. Early indications...
UAW Said to Get 55% Chrysler Ownership, Board Seats
Apr 28th, 2009 - Bloomberg
April 28 (Bloomberg) -- The United Auto Workers union’sretiree health-care fund will own 55 percent of Chrysler LLC inexchange for cutting in half the automaker’s $10.6 billion cashobligation to the trust...
UAW to own 55% of Chrysler under restructuring deal: WSJ
Apr 27th, 2009 - MarketWatch
TOKYO (MarketWatch) -- Under an agreement struck between the United Auto Workers union and Chrysler LLC, the union would eventually own 55% of the auto maker's stock once the company is restructured...
UAW Would Own 55% of Stock in Restructured Chrysler
Apr 27th, 2009 - Wall Street Journal
The United Auto Workers union would eventually own 55% of the stock in a restructured Chrysler LLC under the deal reached by the union and the auto maker, according to a summary of the agreement that was reviewed by the Wall Street Journal.
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4:54In-Depth Look - GM's Bankruptcy Plans - Bloomberg
GM Said to Speed up Bankruptcy Plans as Board Reworks Savings Goals; President Obama Rejected GM's Bid to Keep $13.4 Billion in Loans; GM Negotiating with UAW and Bondholders to Cut Debt (Bloomberg News)
6:10Israelis Support War Against Iran; Mexico Says Swine Flu Over; Obama Closes Tax havens
BofA and Citi in last push on stress tests www.ft.com Obama Wants $190 Billion Tax Increase on Companies www.bloomberg.com GM Bankruptcy Probable as Obama Favors UAW Against Bondholders www.bloomberg.com Buffett sees economic slide ending www ...
5:44Mileage-based tax - airforce one PHOTO OP - GM to lay off 21,000
Foreclosure Prevention Plan Expanded to 2nd Mortgages-General Motors would be half owned by the Treasury under a new sweeping plan that would also shut down GM's Pontiac operations, lay off 21000 workers and impose harsh terms on the company's bondholders ...
1:41Delaware Online News Video: New GM to dissolve 2,100 dealers
Under the plan GM will sell substantially all of its assets to a new company thats owned by the US and Canadian governments, the UAW health-care trust fund and bondholders. The US government will lend $30.1 billion.
