FOR IMMEDIATE RELEASE
May 28, 2009
Contact: Sarah Jackson
202-527-0733
Main Street Bondholders Reject New GM Offer
New Deal Leaves Seniors & Retirees With Almost Nothing
WASHINGTON—Main Street Bondholders today dismissed GM’s new debt-for-equity exchange proposal citing the gross unfairness in giving unions an estimated five times more dollar value per claim than the small bondholders.
For example, on an assumed $25 billion valuation of the new entity, unions would reap 66 percent of their original claim while small bondholders will receive only 13 percent of their claim.
A spokesperson for the bondholder’s coalition said “in this new deal, the U.S. government appears to overtly favor the UAW members over America’s seniors and retirees. The Main Street Bondholders intend to seek separate official committee status as allowed in section 1102 of the bankruptcy code. We have a large and growing concern of small bondholders, especially seniors and Baby Boomers who will receive next to nothing under this deal, and we want to ensure that the bankruptcy process is fair to everyone. Thus we are seeking counsel for a separate class of small bondholders.”
“From the beginning there’s been a lack of transparency in this entire restructuring process. No one seems to have the best interests of small bondholders at heart,” concluded Jim Martin, President of the 60 Plus Association, organizers of the bondholders coalition.
“Let’s finally start an honest negotiation in good-faith, because this has been a campaign of deceit from the beginning, starting with the blatantly unfair offer,” Mark Modica, Business Manager at a Saturn Car Facility from Chalfonte, Pennsylvania said. “It’s time to look out for the interests of the small bondholders, GM, and America. There’s no conceivable reason for every group at the table to get a better deal than the small bondholders. This deal is being financed on the back of public bondholders.”
“Mr. President, we appreciate your attempts to fix our economy, but please don’t break us in the process,” Catherine Graves, a Retiree from Celebration, Florida. “The initial proposal had all of us looking into the abyss of despair, any improvement should represent some degree of relief. As an enthusiastic supporter of President Obama, I was hopeful that he would appoint a task force having respect for his ideology. For this reason, I am extremely disappointed by the apparent continued discrimination being shown to GM bondholders. We are just regular, middle class citizens who have tried to live by American values, doing things right - working hard and saving for retirement. What a sorry state of affairs this is for our new president who inspires hope in so many, and who, himself, represents the rewards that can be achieved by living by American values.”
This announcement follows the Main Street Bondholders’ legislative meetings on Capitol Hill last week voicing concerns over their exclusion in the GM bankruptcy negotiations and to push for a meeting with the Auto Task Force. For the past several weeks leading up to the bankruptcy decision, the Main Street Bondholder coalition held press events with small bondholders in Warren, MI, Philadelphia, PA, Tampa, FL and Washington, D.C. to discuss the nationwide impact of the bankruptcy issue and to advocate for a fair and equitable solution for all parties.
Main Street Bondholders is a project of the 60 Plus Association. For more information, visit: www.MainStreetBondholders.com. To find out more on how to connect with the small bondholders, please contact Media@MainStreetBondholders.com or 202-527-0733.
###
SIxaEv wddqnruimsyp, [url=http://viebpmjilbfq.com/]viebpmjilbfq[/url], [link=http://nugqgkzonjji.com/]nugqgkzonjji[/link], http://vkoovqlrvetm.com/
aNJ1iU rwsvgfzapzub, [url=http://wearuknpiiwt.com/]wearuknpiiwt[/url], [link=http://dotrgyploueo.com/]dotrgyploueo[/link], http://llnnvuorcjfe.com/
Very nice site! cheap viagra
Very nice site! [url=http://apxoiey.com/aoxxvx/2.html]cheap cialis[/url]
Very nice site! cheap cialis http://apxoiey.com/aoxxvx/4.html
Very nice site!
uoc8S2 mzshypsumgqn, [url=http://ujyjlxgijtcm.com/]ujyjlxgijtcm[/url], [link=http://ohzpquhimqtk.com/]ohzpquhimqtk[/link], http://uopzkimvoksd.com/
Great site. Keep doing.
, , , online, ,
Great site. Keep doing.
, buy , , , ,
Great site. Good info
, , , , ,
Great site. Keep doing.
cheap , , , cheap , ,
I bookmarked this guestbook. Thank you for good job!
, , , , ,
Very interesting site. Hope it will always be alive!
, , online, cheap , ,
Great work,webmaster,nice design!
, , , , online,
I bookmarked this guestbook. Thank you for good job!
cheap , buy , , , ,
Incredible site!
cheap , , , cheap , buy ,
Great site. Good info
, , , online, cheap ,
Beautiful site!
, , online, , cheap ,
Beautiful site!
online, , , , buy ,
Very interesting site. Hope it will always be alive!
, , , cheap , cheap ,
I bookmarked this guestbook. Thank you for good job!
, , cheap , , ,
Nice site! Thank you!
, , cheap , , ,
Beautiful site!
, , , cheap , ,
I want to say - thank you for this!
, , , , ,
Perfect site, i like it!
, , , , ,
Excellent site. It was pleasant to me.
, , , , ,
Perfect work!
cheap , , , , ,
If you have to do it, you might as well do it right
online, , , , ,
Great site. Keep doing.
, , online, , cheap ,
Great site. Keep doing.
, , , , buy ,
Perfect work!
, , , , ,
Perfect site, i like it!
, , buy , cheap , ,
Great work,webmaster,nice design!
, , , , cheap ,
I want to say - thank you for this!
, , cheap , , ,
If you have to do it, you might as well do it right
, buy , , buy , ,
Great work,webmaster,nice design!
, , buy , buy , ,
Great .Now i can say thank you!
buy , , cheap , , ,
Very interesting site. Hope it will always be alive!
, cheap , online, buy , buy ,
Nice site! Thank you!
, , , , ,
Very interesting site. Hope it will always be alive!
, , cheap , , cheap ,
If you have to do it, you might as well do it right
cheap , buy , cheap , , cheap ,
If you have to do it, you might as well do it right
, cheap , , , ,
Excellent site. It was pleasant to me.
buy , cheap , , buy , online,
Great work,webmaster,nice design!
buy , , , , ,
It is the coolest site,keep so!
, buy , , , ,
Excellent site. It was pleasant to me.
, , , cheap , cheap ,
I want to say - thank you for this!
, buy , , , ,
It is the coolest site,keep so!
, , buy , , ,
Nice site! Thank you!
cheap , , cheap , , ,
Great site. Keep doing.
, , , cheap , online,
Great .Now i can say thank you!
, cheap , , , ,
If you have to do it, you might as well do it right
, , online, , ,
Beautiful site!
, buy , , , ,
Excellent site. It was pleasant to me.
, , , cheap , ,
Great .Now i can say thank you!
, , , , ,
Great work,webmaster,nice design!
buy , cheap , , cheap , buy ,
Very interesting site. Hope it will always be alive!
, , , , ,
Beautiful site!
, cheap , , , ,
Nice site! Thank you!
online, , , , ,
Great site. Good info
, cheap , , , ,
Excellent site. It was pleasant to me.
, , online, , cheap ,
I want to say - thank you for this!
, buy , , , cheap ,
Nice site! Thank you!
, buy , , , cheap ,
Beautiful site!
, , , , cheap ,
If you have to do it, you might as well do it right
, , cheap , , online,
Incredible site!
buy , , online, , ,
Incredible site!
, , , cheap , ,
It is the coolest site,keep so!
, , cheap , , ,
If you have to do it, you might as well do it right
, , , cheap , cheap ,
Nice site! Thank you!
cheap , , , cheap , ,
I want to say - thank you for this!
buy , , cheap , cheap , ,
It is the coolest site,keep so!
, , online, , ,
Excellent site. It was pleasant to me.
, cheap , , , ,
I want to say - thank you for this!
buy , , , , buy ,
Great work,webmaster,nice design!
cheap , , , online, ,
I bookmarked this guestbook. Thank you for good job!
cheap , , , , cheap ,
Great site. Good info
, , , , cheap ,
I bookmarked this guestbook. Thank you for good job!
, , , buy , ,
Perfect site, i like it!
, buy , , , ,
Incredible site!
, , buy , buy , ,
Perfect work!
, , , buy , ,
Incredible site!
, , cheap , , ,
Perfect work!
, buy , cheap , , ,
Great site. Good info
online, , , buy , ,
Beautiful site!
, , , buy , ,
It is the coolest site,keep so!
, , online, , cheap ,
I bookmarked this guestbook. Thank you for good job!
, buy , buy , , ,
Great work,webmaster,nice design!
, , , , ,
If you have to do it, you might as well do it right
cheap , cheap , , , cheap ,
I want to say - thank you for this!
, buy , , cheap , ,
Beautiful site!
, cheap , , buy , ,
Perfect site, i like it!
, , , buy , ,
I bookmarked this guestbook. Thank you for good job!
, cheap , , , ,
Incredible site!
, , online, , buy ,
I want to say - thank you for this!
cheap , , , buy , ,
Great work,webmaster,nice design!
, , cheap , , ,
Very interesting site. Hope it will always be alive!
, , buy , , ,
Great site. Good info
cheap , , , cheap , cheap ,
Great site. Good info
buy , , , , buy ,
Incredible site!
online, buy , buy , , ,
I bookmarked this guestbook. Thank you for good job!
, , cheap , online, ,
Nice site! Thank you!
, , , , cheap ,
I want to say - thank you for this!
, , , cheap , ,
It is the coolest site,keep so!
cheap , , online, buy , ,
Excellent site. It was pleasant to me.
, cheap , , , online,
Nice site! Thank you!
, , , buy , ,
Nice site! Thank you!
, , , online, online,
Perfect work!
, cheap , , , buy ,
Great site. Keep doing.
, , , , cheap ,
Very interesting site. Hope it will always be alive!
, cheap , , , ,
Excellent site. It was pleasant to me.
buy , , , , ,
Perfect work!
, online, , , ,
Excellent site. It was pleasant to me.
cheap , , , , ,
Very interesting site. Hope it will always be alive!
buy , , cheap , , ,
Excellent site. It was pleasant to me.
, , online, , ,
Great site. Keep doing.
, , , , ,
Very interesting site. Hope it will always be alive!
, , , , online,
If you have to do it, you might as well do it right
buy , , , online, buy ,
Great .Now i can say thank you!
, , buy , cheap , ,
If you have to do it, you might as well do it right
, , , buy , ,
Perfect work!
, , online, online, ,
Very interesting site. Hope it will always be alive!
buy , , , , cheap ,
I bookmarked this guestbook. Thank you for good job!
, , , , cheap ,
Great work,webmaster,nice design!
buy , buy , , , cheap ,
Perfect work!
, , , cheap , cheap ,
Great site. Keep doing.
, , , buy , online,
Excellent site. It was pleasant to me.
, buy , , , ,
Perfect work!
, cheap , , , cheap ,
I bookmarked this guestbook. Thank you for good job!
cheap , , , , online,
Great .Now i can say thank you!
buy , , , buy , cheap ,
Incredible site!
, cheap , buy , , ,
If you have to do it, you might as well do it right
, online, , , ,
Nice site! Thank you!
buy , , cheap , buy , ,
If you have to do it, you might as well do it right
, cheap , , , cheap ,
Great site. Keep doing.
cheap , online, , , buy ,
Beautiful site!
, , buy , online, ,
Perfect work!
, , buy , , ,
Very interesting site. Hope it will always be alive!
, , , buy , ,
Nice site! Thank you!
buy , online, buy , , ,
Perfect site, i like it!
, , buy , , ,
Beautiful site!
, , , , ,
If you have to do it, you might as well do it right
buy , , , , ,
Nice site! Thank you!
, , online, , ,
If you have to do it, you might as well do it right
, buy , , , ,
I want to say - thank you for this!
, , , buy , ,
Great .Now i can say thank you!
, , , , cheap ,
Beautiful site!
buy , cheap , , online, ,
Great work,webmaster,nice design!
, , , buy , online,
If you have to do it, you might as well do it right
, , , , ,
Beautiful site!
, cheap , cheap , , ,
I bookmarked this guestbook. Thank you for good job!
buy , , , , ,
Nice site! Thank you!
, , cheap , , buy ,
Incredible site!
, cheap , , , ,
Great site. Keep doing.
, buy , , cheap , buy ,
It is the coolest site,keep so!
, buy , , online, ,
Perfect site, i like it!
online, cheap , buy , , ,
Perfect work!
cheap , , , , cheap ,
Excellent site. It was pleasant to me.
online, , , online, cheap ,
Great work,webmaster,nice design!
, cheap , , online, cheap ,
Beautiful site!
cheap , , , , ,
Perfect site, i like it!
, , buy , online, ,
Beautiful site!
, , buy , , ,
Beautiful site!
online, , buy , , ,
Perfect site, i like it!
online, buy , , , cheap ,
I bookmarked this guestbook. Thank you for good job!
, buy , cheap , cheap , buy ,
Perfect work!
online, , , , ,
Great work,webmaster,nice design!
, cheap , , , ,
Very interesting site. Hope it will always be alive!
, , cheap , buy , ,
If you have to do it, you might as well do it right
cheap , , , , ,
It is the coolest site,keep so!
, , , , ,
It is the coolest site,keep so!
, , , , cheap ,
I bookmarked this guestbook. Thank you for good job!
buy , , buy , , ,
If you have to do it, you might as well do it right
online, cheap , buy , cheap , ,
Incredible site!
buy , , , , buy ,
Great work,webmaster,nice design!
cheap , , , , ,
It is the coolest site,keep so!
, , buy , buy , ,
Great .Now i can say thank you!
, , cheap , buy , ,
I bookmarked this guestbook. Thank you for good job!
cheap , , online, , ,
Nice site! Thank you!
, , , cheap , ,
If you have to do it, you might as well do it right
, , , cheap , ,
I bookmarked this guestbook. Thank you for good job!
cheap , buy , , buy , cheap ,
cialis online online cialis online 2990 http://wiki.mailman.atlassian.com/display/~fionapaloma )o)8 [url=http://wiki.mailman.atlassian.com/display/~fionapaloma]cialis online[/url] nhis
buy cialis
http://khmezsjg1.com
[url=http://khmezsjg1.com]buy cialis[/url]
cialis online online cialis online 92478 1 http://wiki.mailman.atlassian.com/display/~fionapaloma ;
[url=http://wiki.mailman.atlassian.com/display/~fionapaloma]cialis online[/url] cvoboi
Viagra pharmacy viagra 734868 [URL=http://www.xbox360achievements.org/forum/member.php?u=231036]viagra price[/URL] o) http://www.xbox360achievements.org/forum/member.php?u=231036 g qklkg
Viagra pharmacy viagra 287552 [URL=http://extjs.com/forum/member.php?u=85905]viagra pill[/URL] d( http://extjs.com/forum/member.php?u=85905 xorj
Viagra pharmacy viagra 893552 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=viagraprice]viagra price[/URL] ())8) http://communitymapbuilder.org/users/viewuserprofile.action?username=viagraprice cqwsds
Tamiflu pharmacy tamiflu 16304 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=tamiflu]tamiflu[/URL] )o()8 http://communitymapbuilder.org/users/viewuserprofile.action?username=tamiflu xkizi
Zoloft pharmacy zoloft 190125 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=zoloft]zoloft[/URL] )o http://communitymapbuilder.org/users/viewuserprofile.action?username=zoloft kxtmu
Propecia pharmacy propecia 149875 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=propecia]propecia[/URL] ())8 http://communitymapbuilder.org/users/viewuserprofile.action?username=propecia mgopky
Viagra pharmacy viagra 330785 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=viagraprice]viagra price[/URL] ); http://communitymapbuilder.org/users/viewuserprofile.action?username=viagraprice pzkdz
Acomplia pharmacy acomplia 33620 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=acomplia]acomplia[/URL] ;d http://communitymapbuilder.org/users/viewuserprofile.action?username=acomplia xkwj
Propecia pharmacy propecia 74427 [URL=http://communitymapbuilder.org/users/viewuserprofile.action?username=propecia]propecia[/URL] bb http://communitymapbuilder.org/users/viewuserprofile.action?username=propecia qltja