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Meet GM's Bondholders: Jim Graves

Posted By Rory Cooper On May 20, 2009 @ 5:46 pm In Ongoing Priorities | Comments Disabled

As the State of Indiana announces it will no longer invest in bonds [1] issued by banks and automakers who receive federal bailout money, and waits for a court ruling on whether the the U.S. government acted legally [2] in the Chrysler bankruptcy, we thought we would bring you another installment of Meet GM’s Bondholders. Today: Jim Graves [3].

I have worked for General Motors and Ford Motor Company and currently am an independent software developer. I am [speaking out] on behalf of my mother, an 80-year-old retired GM employee and small bondholder. Both my mother and I have over $100,000 in GM bonds. My mother uses the interest from the bonds for retirement income and I planned to do the same when I retire. We [urge] the Obama Administration to listen to our concerns and treat us fairly in the GM restructuring. Bondholders, especially small bondholders, are being ignored in negotiations, and singled out to bear lion’s share of the cost of restructuring GM.

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/05/20/meet-gms-bondholders-jim-graves/

URLs in this post:

[1] no longer invest in bonds: http://www.wibc.com/news/Story.aspx?ID=1094872

[2] acted legally: http://www.reuters.com/article/marketsNews/idUSN2052572020090520

[3] Jim Graves: http://money.cnn.com/news/newsfeeds/articles/djf500/200905201704DOWJONESDJONLINE000988_FORTUNE5.htm

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