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GM negotiations with bond holders not going well

Bruce Nunnally

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General Motors Corp.'s attempts to cut its debt as required by the government's $13.4-billion loan hit a serious roadblock after one of the world's largest bond investors pulled out of talks with the automaker, an analyst said Thursday.

The decision by Pacific Investment Management Co., known as PIMCO, raises questions about whether the Obama administration will have to recast the goals of the loan agreement and increases the chances some analysts have forecast that the automaker might have to ask a bankruptcy court for help in cutting its debts.

[Freep.com article]


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