I’m Thinking Structural Subordination

Wendy’s/Arby’s Group, Inc. (ticker WEN) was formed in September 2008 through the merger of the Wendy’s and Arby’s fast food chains. In March 2009, WEN announced it had redone its main loan agreement to reflect the merger. Nothing unusual there....

General Motors’ Predicament

After asking for $18 billion, General Motors is getting a $10 billion loan from the U.S. Government. They claim they’re running out of liquidity and they need the funds to survive through 2009. Are they right? Or is this just financial incompetence taking advantage of...