What's Different at GM?

Monday, July 06, 2009

Courtesy of Bloomberg:

A group of bondholders, tort claimants and unions having their retiree benefits slashed had objected during three days of hearings on the sale, saying the so-called “new GM” to be majority-owned by the U.S. government is just “old GM” stripped of liabilities. The company will sell the same cars and trucks, have the same workers and the same executives.
But this time it won't go bankrupt! (interject necessary sarcastic statement)


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