David Einhorn Discusses Plan to Unlock Value at General Motors

Einhorn has proposed creating two classes of common shares

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Mar 29, 2017
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David Einhorn (Trades, Portfolio) on Tuesday discussed his plan to divide General Motors' (GM, Financial) common stock into two CUSIP investor classes to cater to those who like its hefty 4% dividend yield and those who like its other 75% of earnings. Einhorn said the plan would unlock "tremendous value," but GM has balked, saying the move is unprecendented and would negatively affect their credit rating.