GM update

Where things stand:

• GM reportedly to miss $1 bln debt payment due June 1

• GM's debt-for-equity swap offer likely to fail-KDP

• $5 billion [from the Obama Administration] more for GM...to avert bankruptcy

I don't think I would be out of bounds in saying that things aren't going too well. But I'm sure that government involvement in the health care and energy industries will be totally different.