GM makes new bondholder offer ahead of bankruptcy - Yahoo! Finance: "The proposed sale process would see GM's profitable assets sold to a new company funded by the U.S. government in a fast-track bankruptcy process. The U.S. Treasury would own 72.5 percent of the new GM coming out of a bankruptcy sale process while a trust affiliated with the United Auto Workers union would own 17.5 percent, GM said in a filing with securities regulators."
---------------
And that's how Obama creates his very own socialist workers' cooperative out of what was once the world's largest automobile company.
No comments:
Post a Comment