General Motors Corp. is trying to get bondholders to agree to a debt swap deal. Debra June, a substitute teacher from Stuart, Fla., is an example of why the offer is proving to be a tough sell.
Six years ago Ms. June invested $70,000 in GM bonds, thinking they were a safe bet. But under under the offering GM unveiled two weeks ago, all she would get is some stock worth about $280, according to her own estimate.
“I’m just going to take the bonds and hang them up in my living room. They’re more valuable as wallpaper,” the 52-year-old ...
Monday, May 25, 2009
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