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DETROIT (AP) -- General Motors Corp. notified shareholders Tuesday it is planning a reverse stock split that would give them one share of new stock for every 100 shares they currently own.
Critics, mainly bondholders, have accused the Obama administration of favoring the government and the UAW at the expense of investors.
Richard Hilgert, president and owner of Automotive Financial Research LLC in Beecher, Ill., said bondholders and stockholders are getting the short end of the deal.