GM to change name to Federal Motors

[Bocsius]

http://news.yahoo.com/s/ap/20090427/ap_on_bi_ge/us_gm_plan

Sort of.

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.

[Great Rumbler]

Now with the government involved maybe they can finally put an end to years of massive debt.

spoiler (click to show/hide)

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[Bocsius]

Would they have to pay themselves income tax?



The above question assumes the company ever makes a profit.