The White House is offering the UAW 100 cents on the dollar for equity in a restructured GM. By comparison, other bond-holders are being offered less than a tenth of that:
WaPo.
While the Obama administration has been playing hardball with bondholders, it has been more than happy to play nice with the United Auto Workers. How else to explain why a retiree health-care fund controlled by the UAW is slated to get a 39 percent equity stake in GM for its remaining $10 billion in claims while bondholders are being pressured to take a 10 percent stake for their $27 billion?
WaPo.
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1 comment:
"Eez Social-eezm"WV: ovans. Where His Imperial Majesty is going to send us if we don't shut the f*** up and get with the program.
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