Thursday, November 13, 2008

A Taxpayer Friendly GM "Solution"

This is rather mercenary, but ...

Notice that the non-pension post-retirement benefits of $33 billion equate to $55/share?

If the UAW and "The Government" can come to an understanding, that's a whole LOT of bargaining power.

So much that you could buy out the existing stock holders (just $2 billion), pay off the debholders at market prices, whip this puppy through bankruptcy, maybe, to get out from dealer contracts and the onerous aspects of Cerberus agreement, and still turn a very significant cash profit, in the short-term.

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