Word: swaps
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Dates: during 2000-2009
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...bonds. The offer covers $27.5 billion of bonds, and based on the recent price of GM stock would result in bondholders receiving less than 40% of a bond's original face value. GM's chief executive Fritz Henderson described the terms of the offer as "stern." For the swap to take place 90% of the bondholders must accept the offer. If that percentage is not met, GM will file bankruptcy. Many Wall Streeters believe the prospects for such a major swap of GM stock for debt are dubious since bondholders expect to fare better in bankruptcy. Some bondholders are said...
...jobs, reduce its dealer network by 42%, and eliminate the Pontiac brand. It also announced that it has reached an agreement with the U.S. Treasury to convert 50% of the outstanding government loans to the company - or about $5 billon - into GM stock. As a result of this swap, the U.S government would become the majority shareholder of GM. The automaker also said that it is seeking an additional $11.6 billion in government loans...
...Again - the film is a body-swap comedy about a sour guy in his 30s (Matthew Perry) who gets to inhabit his cool teenage self (Efron) - could be the title of the young star's career. As basketball stud and dance master Troy Bolton, he headlined three editions of Disney's High School Musical: two wildly popular TV specials and a movie version that earned $251 million at the world box office. He also co-starred in the hit film Hairspray, a savvier, '60s high school musical...
...account in the next year or two, it likely won't have enough time to recover, says Ross Levin, a financial planner in Edina, Minn. One option is to move the remaining funds to a less risky investment within your plan (a new IRS rule allows 529 holders to swap their investments twice this year). But if you're concerned about the conservative options your plan offers, you may be better off cashing in and parking the money in an online savings account or money market fund. Finally, if you have other resources to cover college costs for the next...
Listen up, all ye coeds: the dress code on campus is about to kick up a notch. In the past year, a number of top financial professionals have decided to swap toxic assets and big acquisitions for academia...