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“A coalition of retail bondholders, meanwhile, continued to oppose the offer.” -Associated Press

A coalition of retail bondholders, meanwhile, continued to oppose the offer. The group said the new offer remained unfair to retirees who depend on GM bonds for income and was overly favorable to the UAW. “From the beginning there’s been a lack of transparency in this entire restructuring process,” said Jim Martin, president of the retiree group 60 Plus Association, in a statement. “No one seems to have the best interests of small bondholders at heart.”

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By admin – May 28, 2009

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