{"id":1198,"date":"2009-05-04T12:00:49","date_gmt":"2009-05-04T20:00:49","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=1198"},"modified":"2009-05-11T10:00:00","modified_gmt":"2009-05-11T18:00:00","slug":"gm-ceo-its-not-like-im-in-charge-here","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/gm-ceo-its-not-like-im-in-charge-here\/","title":{"rendered":"GM CEO:  &#8220;It&#8217;s not like I&#8217;m in charge, here.&#8221;"},"content":{"rendered":"<p>Fritz Henderson is nominally in control of GM.\u00a0 He&#8217;s, you know, the CEO.\u00a0 In theory, that means he also has a fiduciary duty to his investors.\u00a0 So, when he gets a proposal from certain of his creditors that they will not accept getting flucked sideways by accepting 10% for their $27 billion in debt while other, more Democrat-like creditors would be getting 39% for giving up $10 billion in junior claims, why, he&#8217;s supposed to consider their arguments against some standard, preferably a reasonable one.<\/p>\n<p><a href=\"http:\/\/finance.yahoo.com\/news\/New-GM-CEO-says-company-can-apf-15121620.html?sec=topStories&amp;pos=5&amp;asset=&amp;ccode=\">Henderson&#8217;s response<\/a>:\u00a0 Sorry, I can&#8217;t give more than 10 percent to the bondholders.<\/p>\n<blockquote><p>&#8220;It&#8217;s outside of what the Treasury has told us they would support,&#8221; Henderson said. &#8220;It&#8217;s about as factual as I can be.&#8221;<\/p><\/blockquote>\n<p>Translation:\u00a0 The politicians are in control.\u00a0 And we all know <a href=\"http:\/\/www.opensecrets.org\/orgs\/summary.php?id=D000000070\">who controls them<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fritz Henderson is nominally in control of GM.\u00a0 He&#8217;s, you know, the CEO.\u00a0 In theory, that means he also has a fiduciary duty to his investors.\u00a0 So, when he gets a proposal from certain of his creditors that they will not accept getting flucked sideways by accepting 10% for their $27 billion in debt while [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1198","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=1198"}],"version-history":[{"count":8,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1198\/revisions"}],"predecessor-version":[{"id":1200,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1198\/revisions\/1200"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=1198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=1198"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=1198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}