Surprise!
Surprise!
Surprise!
Posted on 10/15/2010 3:27:08 PM PDT by Nachum
General Motors received U.S. Labor Department approval for an agreement to fund its union-led retiree health care trust with debt, common and preferred stock and warrants in the new company.
GM agreed to contribute the securities to the fund, which will pay retirees' medical benefits, in bankruptcy court in July 2009.
(Excerpt) Read more at autorifi.com ...
They’ll be screwed in the end.
That’s the dumbest thing I ever heard of.....but it’ll fit nicely with Obama’s plan for “government only” health insurance. Comes with a morphine drip at age 65.-
Seems pretty risky, the old timers are going to need to draw on this fund for their prescriptions.
Wouldn’t it be safer to invest these funds in something more rock solid and significantly safer,something like Powerball tickets?
Well of course!
Obama needs a price of about $60 per share to have the taxpayers come out even,
So, that’s why the target price of the GM IPO is about $20 per share, so the unions can buy in cheap, see if they can get the appreciation in value, way before the US government can realize any return on their investment.
Makes perfect sense for a Communist, but the three to one ratio is a bit steep.
Remember November!
I doubt it will bring $20!
Sort of like a mini Federal Reserve isn’t it?
Give me a break!
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