Quote:
Originally Posted by carfansince73
This sucks bigtime for the bondholders!!! Never before in bankruptcy would a non-secured creditor (greedy-ass union) be able to get in line before a secured creditor (bondholders). Obama needs those unions in his corner so he's doing all he can to make sure they come out in the black on this one, meaning they will own more of the company than those that have been buying GM's debt all these years. What pile of F'n crap!!!
I want my Camaro, don't get me wrong, but this deal should work like it's supposed to meaning the bondholders should be majority owners, not the union!
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I agree 100%. Who the hell thinks giving the company to the union is going to work out? Who will they report to? The president? Get your GM vehicles now, because in 10 years they will be a shell of what they are now, and we can thank the all knowing government for it.