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5,986 Posts
When I was a kid, the saying was,"What's good for GM is good for America."
And so it goes.
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GM Likely to File for Bankruptcy, Report Says
Washingtom Post ^ | 12/17/2008
Posted on Wednesday, December 17,
General Motors is likely to file for bankruptcy protection with government backing, giving bondholders a recovery of more than 25 cents on the dollar, according to Moody's Investors Service.
There is a 70 percent probability that the restructuring plan for U.S. automakers will consist of a prepackaged bankruptcy financed by government loans to get GM and Chrysler through to 2009, Moody's said in a report dated Dec. 15. Under that scenario, bondholders would be likely to lose less than 75 percent of their investment, Moody's said..............."
And so it goes.
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GM Likely to File for Bankruptcy, Report Says
Washingtom Post ^ | 12/17/2008
Posted on Wednesday, December 17,
General Motors is likely to file for bankruptcy protection with government backing, giving bondholders a recovery of more than 25 cents on the dollar, according to Moody's Investors Service.
There is a 70 percent probability that the restructuring plan for U.S. automakers will consist of a prepackaged bankruptcy financed by government loans to get GM and Chrysler through to 2009, Moody's said in a report dated Dec. 15. Under that scenario, bondholders would be likely to lose less than 75 percent of their investment, Moody's said..............."
