GM’s Dissident Bondholders Revealed

My post last week about the business press failing to routinely disclose the identity of dissident bondholders in both the Chrysler and General Motors (GMGMQ) Chapter 11 proceedings drew a comment that the information is in the public record and can easily be accessed. Which is true and bolsters my complaint. Actually, it’s worse—whole stories have been written about the three small GM bondholders who were leading the revolt. I should have included the info in my post. But I got caught up in my meta-commentary on the press issue: Why are national news organizations often failing to name bondholder names, so that they can be subject to proper scrutiny?

The bondholders’ claim didn’t succeed in derailing the GM bankruptcy, which was moved along legally this weekend. Nor should it have. These bonds were inherently risky, and over the past six months, that risk has become abundantly apparent.