As for bondholders, they’ve rejected the government’s offer of a 10% stake. You might read GM Bondholders Are People Like You and Me, also from the Journal: First, let’s set the record straight about who owns GM’s bonds. We are hardworking families, individual investors and retirees who purchased billions of these bonds in $25, $50 and $100 increments. Many bonds were bought directly and others are held in our pension funds, 401(k) plans and other retirement programs.
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