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  • GM's Use of Bailout Money: What Else Aren't They Telling Us? [View article]
    There are two issues here. One is the support for Delphi and the other is the manner in which Delphi is being supported.

    It was always a foregone conclusion that Delphi would be bailed out in some manner. That's not in dispute nor is it the point of the article.

    The use of government funds to support a leveraged buyout of Delphi is the issue that troubles me. If it was necessary to "save" Delphi, it would have seemed more appropriate to do it head on and reserved the profits, if they ever materialize, for the government. This appears to be an out and out government subsidy for a PE firm.


    On Jun 08 01:49 PM TomWilkinsonatGM wrote:

    > Sorry, this post is a little bit of "fire, ready, aim." The potential
    > for GM support for Delphi's emergence was discussed on page 33 of
    > GM's February 17 viability plan, and has been a subject of discussions
    > with the Task Force ever since. There are plenty more details in
    > the 8-K GM filed on June 5. So to imply that all of this is a dark
    > conspiracy is just plain wrong -- it's there, online, in documents
    > filed with the SEC and posted on the GM Investor website.
    Jun 08 14:15 pm |Rating: 0 0 |Link to Comment
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