Not just the bondholders are being screwed. I worked for GM for about 10 years in the 1970's. Over that time I accumulated several hundred shares of GM stock thru the SSPP (salaried employee stock purchase plan). My aggregate cost per share worked out to about $48/share.
Last fall, when it became apparent that GM is toast I sold all my GM stock. I got $3/share for it (this morning it's $1.66 - I coulda done worse).
The only (modest) upside is I now have capital losses I can claim on my tax returns for the next 20 years or so.
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Today's Featured Article - Talk of the Town: Can You Patch a Tire Sidewall? - by Staff. Another neat discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: "Has anyone attempted (or succesfully) glued or bolted a patch to the tires' sidewall. I cannot afford a tire right now but have some horse stall mat material and could buy some glue. I could use some advice on
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