Under a current proposal, existing stock owners would see their stake in the company decrease to 1%, Uncle Sam would control more than 50%, UAW would would get up to 39% (89% minus whatever gubmint gets), and other creditors 10%.
Oh, 21K more people to stand in line for government money.
Title: Re: GM to change name to Federal Motors
Post by: Great Rumbler on April 27, 2009, 05:09:11 PM
Now with the government involved maybe they can finally put an end to years of massive debt.
spoiler (click to show/hide)
:teehee
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Title: Re: GM to change name to Federal Motors
Post by: Bocsius on April 27, 2009, 05:11:07 PM
Would they have to pay themselves income tax?
The above question assumes the company ever makes a profit.