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Chalanachithram.com DB » TF Industry related » Archive through June 02, 2009 » 60 fed/12.5 canada govt/17.5 UAW/10 bond holders GM « Previous Next »

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Ravino786
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Username: Ravino786

Post Number: 9160
Registered: 12-2006
Posted From: 12.107.188.5

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Posted on Monday, June 01, 2009 - 08:27 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)
The plan is for the federal government to take a 60 percent ownership stake in the new GM. The Canadian government would take a 12.5 percent stake, with the United Auto Workers getting a 17.5 percent stake and unsecured bondholders receiving 10 percent. Existing GM shareholders are expected to be wiped out.

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