This company has a long way to go. It is a marathon, not a sprint. To buy these bonds you have to be in it for the long haul. It is very possible they will trade down before they trade up.

It?s a case of the rich getting richer and the poor getting poorer.

We'd like to see Lear's bonds get cheaper before we jump in.

If the situation is coming apart quicker than expected, you can blame it on liquidity and management's inability to communicate and tell a good story.

A month ago I thought it was a greater than 50% chance they would strike a deal. Now I'm not so positive.

So far they haven't been able to see a strong sense of urgency. It's a little here and a little there. It's not the sweeping kind of change that this company needs.

While we give GM a 'B' for effort, this news is not as compelling as it sounds.

It might be just what GM needs.

This isn't monumental news. But anything that helps GM's cost of funding is a good thing for the company.