Friday, February 27, 2009

GM Bondholders Aren't Gonna Take It Anymore

Developing story: WSJ reports that bondholders, tired of getting diddled by management and the UAW, will show everyone who is boss, and have demanded a meeting with Steve Rattner and his car task force. It was only a matter of time before Rattner would get buddy buddy with his old wall street crowd who will now demand bond security concessions and federal guarantees... Steve is however kinda stuck between fulfilling his political duties which demand GM above all else, UAW and bondholders included, and his collegial responsibilities to his bondholder friends. Sphere: Related Content
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