Obama Motors
From: GM Launches Exchange Offers and Consent Solicitations for Outstanding Notes
Completion of the U.S. Treasury Debt Conversion:
the U.S. Treasury (or its designee) shall have been issued at least 50 percent of the pro forma common stock of GM in exchange…
Add:
Q:Is the exchange offer going to go through?
A: Should be a no-brainer, the unsecured bondholders are far better off than going to bankruptcy court, they get 225* GM share price per $1000, or about 45% recovery at current market prices, before dilution…