Gettelfinger discussing the 2.5% warrants that the UAW has received in GM and snickering - "$75 Billion Dollars in equity for the company!? We did not put a lot of emphasis on the 2.5% warrants, let me put it that way." As he shakes his head on whether he expects GM to ever get that kind of equity valuation.
Bondholders waiting for their warrants to be worth anything may want to find a flux capacitor and go to the year 10,000.
Which leads to the more pertinent question: obviously the (worthless) warrants were not the reason for the ad hoc committee to switch sides here... Did S-Rat have some highly persuasive conversations with Houlihan Lokey and the committee members? Inquiring minds dying to know.
Full (low quality) clip below.
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