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DB45

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DB45

Re: None

Thursday, 05/28/2009 11:31:41 AM

Thursday, May 28, 2009 11:31:41 AM

Post# of 7196
In my opinion they simply asked the bondholders to support their efforts in the bankruptcy.

"The company said in a statement that it offered bondholders 10 percent of the stock in a newly formed GM, with warrants to buy up to 15 percent if the bondholders agree to support selling the company's assets to a new company under bankruptcy court protection."

http://news.yahoo.com/s/ap/20090528/ap_on_bi_ge/us_gm_bondholders

Looks to me as if they are certainly indicating a BK.
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