Posted 6/27/2025 06:31 (#11277101 - in reply to #11276870) Subject: RE: Hope this is not correct, but fear it is.
UP / Thumb of Michigan
HuskerJ - 6/26/2025 22:37
That's what I heard, the union employees got their pension bailed out. It was people who invested in GM stock like my uncle that lost their shirts.
Thats the nature of being a stockholder. It was a bad deal- but not nearly as bad as the screwing the GM Bondholders received
I know many salaried GM employees who invested in bonds rather than stock due to bonds being much safer. Supposedly anyway.
One can argue all day about what would have happened had the bondholders assumed control of the company. And it doesn't matter. Bondholders were in a senior position until the Government took over and changed all that.
Hope this is not correct, but fear it is.
