
I just received an official communication from Edward Jones on behalf of GM. No action is required on our part, as we are not a "substantial" owner (possessing at least 27 million shares). Broadly, in a lot of dense legalistic nonsense, it says GM is in bankruptcy and don't anybody do anything that will mess with that (like trying to sell your 27 million shares). It announces the court's intent to approve the sale of all GM's stuff to a holding company (a U.S. Treasury-sponsored purchaser called "Vehicle Acquisition Holdings LLC") and the date of a hearing at which objectors can object (June 30 in New York - but the deadline for filing such objections was June 19). It took them 18 pages to say this (and no, I didn't read it all).
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