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GM Bondholders Call Debt Swap Risky
GM bondholders cast doubt on whether the company's survival plan would keep it out of bankruptcy court, given slumping auto sales.
Wall Street Journal

Iowa Mill Company Suing AIG, ACE Over Flood Insurance Claims
A Cedar Rapids corn milling company is suing a unit of insurance giant AIG and another company, accusing them of acting in bad faith for refusing to pay flood insurance claims.Penford Products ...
Insurancejournal.com

AIG, Countrywide in Legal Feud Over Insurance for Subprime Loans
An AIG unit and Countrywide Financial Corp., now part of Bank of America Corp., have sued each other, alleging breach of contract, in a dispute over insurance losses for subprime mortgage loans ...
Insurancejournal.com

GM Bondholders Call Debt Swap Too Risky
GM bondholders cast doubt on whether the company's survival plan would keep it out of bankruptcy court, given slumping auto sales.
Wall Street Journal

China boosts auto industry aid
CHINA has unveiled measures to kick-start domestic car demand and to encourage the development of more environmentally friendly cars.
The Australian

GM bondholders raise concerns with U.S. auto panel
DETROIT (Reuters) - Financial and legal advisers to General Motors Corp bondholders on Sunday raised new concerns about GM's stalled debt restructuring in a letter to the White House task force overseeing the automaker's turnaround effort.
Reuters

WaMu holding company sues FDIC
The holding company for failed savings and loan Washington Mutual Inc, has sued the Federal Deposit Insurance Corp. for billions of dollars in claims in connection with the September seizure and sale of the Seattle-based thrift to JPMorgan Chase & Co.
Biz Journal

Daimler to Sell $2.7 Billion in New Stock to Abu Dhabi - NY Times: Europe
The sale would make Abu Dhabi the German automaker's largest shareholder at a time of extreme hardship of the global auto industry.
NewsRack

Daimler to sell nearly €2-billion in shares to Abu Dhabi
Sale would make Abu Dhabi the biggest shareholder in German auto maker
The Globe and Mail

Officials: Obama must turn AIG anger into support
Three prominent elected officials want President Barack Obama to channel the public anger over the AIG bonuses into action that supports public works projects.Pennsylvania Gov. Ed Rendell and California Gov. Arnold Schwarzenegger have joined New York City Mayor Michael Bloomberg in a coalition that promotes rebuilding roads, bridges and other projects.Rendell says the controversy over the bonuses paid to executives at the insurance giant American International Group Inc. has taken attention away from Obama's efforts to get the country moving again.
Topix.net

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