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 The ideals that are held by myself and by many of the longtime FRC mentors and volunteers whom I consider friends and colleagues are bigger than FIRST, and we will find (or make) another vehicle for them if we are forced to. - Jared Russell [more] |
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#13
01-06-2009, 15:35
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Re: GM and its impact on FIRST
Thank You Karthik, now if someone could explain all of this in layman's terms. I fail to understand how this works, to me it appears as though GM is saying, "This is not the GM you are looking for" to its creditors. On March 31 they had $54.4 billion in consolidated debt and now they have $17 billion in consolidated debt. Now, I KNOW they didn't pay off all that debt so where did it go?
Also, if I understand this correctly those people that owned stock in GM just got the shaft And one last question, New VEBA, what is it? EDIT: Yes, I read the article, I am just confused by it... 
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