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[stock2windaily]

Since you are interested:

The Exchange Offer:

We are offering 225 shares of GM common stock for each $1,000 principal amount of GM notes that you own and to pay you in cash for all accrued but unpaid interest on your GM notes to the settlement date of the exchange offers.

We believe there are advantages to restructuring GM out of court through the exchange offers.

It continues on - and sounds very promising - it is a book - about 200 pages - LOL - so I can't give you all the info - but it looks good to me!

It would relieve GM of all the debts - and put common shareholders in a much stronger position.

Bankruptcy may not be necessary - if the majority agree to the terms - if they don't agree and allow GM to go bankrupt - they could lose everything! - it even states that in bold print!