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Mad Hedge Fund Trader
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John Thomas graduated with a bachelor’s degree in biochemistry with honors and a minor in mathematics from the University of California at Los Angeles (U.C.L.A.) in 1974. He moved to Tokyo, Japan where he was employed by a medium-sized Japanese securities house. Thomas became fluent in... More
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  • GM: Biting the Bullet 0 comments
    Apr 14, 2009 2:45 PM | about stocks: GM, F

     The latest off to the General Motors (GM) bond holders: zero cash, zero debt, and a 20% ownership in GM stock, which may become worthless if GM files for bankruptcy within 60 days. This is down from 8% cash, 16.5% of new debt, and 90% on GM stock that was on the table just a few weeks ago. Whoa! Harsh.  Looks like the unions are going to take it on the nose too. I guess it’s not a good idea to lend money to people who crank out crappy products to a disappearing market at higher prices than their competitors. If this isn’t the Fat Lady clearing her throat and getting ready to sing, I don’t know what is. The death watch continues.
     

    Stocks: GM, F
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