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Jun 1, 2009 0

GM and CitiGroup removed from DOW

The Dow Jones industrial average is the latest Wall Street institution to be reshaped by the financial crisis. Continue reading GM and CitiGroup removed from DOW

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May 29, 2009 0

GM Bankruptcy

The Treasury Department and a committee of major bondholders at General Motors have reached a deal that could give creditors a larger stake in GM than previously offered. But bankruptcy is still likely in the next few days despite the deal.

The agreement, revealed in a Securities and Exchange Commission filing by GM (GM, Fortune 500) early Thursday, would essentially give the bondholders 10% of the company but also give them the rights to buy an additional 15% of the company’s stock at a low price.
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