Reply #35: Well, I am not a corporate investor but I am an investor. And here's why: [View All]

[CTyankee]

When my mother was needing to go into the Special Care Unit at her assisted living facility, I needed to do something to help pay the extra expense. Since I had power of attorney I had her financial advisor look for the best paying bond he could find. The GM Preferred Stock (Senior Notes) paid 7.5% far more than what she was getting on her various bonds. She had only one source to buy the GM stock: part of the money from the sale of her house. So I made the decision to get the GM stock. You should know that while she was not hurting for money, she was not rich. She had just always been frugal and had invested in bonds to give her a modest, steady income.

As it turns out, she never went into the SCU. She fell and broke her arm, went into the hospital and then into Rehab and then a nursing home. She decided not to eat and wasted away gently, dying a few months later.

That's the story of my mother, the GM bondholder. I wish people at DU wouldn't paint everybody in the GM bond situation with one big brush. It's sad and, frankly, tiresome.