Hello everybody!
Stock market was a suit that never fitted me. Just a question. I have 10 000 GM shares. According to the latest GM restructuring plan,
"...The aggregate amount of GM common stock to be issued to the U.S. Treasury (or its designee)
pursuant to the U.S. Treasury debt conversion and to the new VEBA pursuant to the VEBA
modifications would represent approximately 89 percent of the pro forma GM common stock
(assuming full participation in the exchange offers), with the final allocation between the U.S.
Treasury (or its designee) and the new VEBA to be determined in the future. Of the remaining
pro forma outstanding GM common stock, noteholders would represent approximately 10
percent, and existing GM common stockholders would represent approximately 1 percent. We
determined the foregoing GM common stock allocations following discussions with the U.S.
Treasury where the U.S. Treasury indicated that it would not be supportive of higher allocations
to the holders of notes or to existing GM common stockholders...."

If I understood it right after all this pushy-pushy by Barack O'Bama and his bosses, the existing common stockholders will get 1 % ?!

1% of what?

How this will translate to my 10 000 shares?

Thank you for your answers.