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Nor did the probe conclude GM had intentionally put profits ahead of safety, a frequent claim by the firm's critics.GM has already taken steps to improve its handling of safety issues, company officials insist, including the recent appointment of a corporate-safety tsar.
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Convertible bonds are fixed-income securities that can be exchanged for shares in the issuing company.
Chen may have bought the stock from another person not related to the issuing company.
"With an e-ticket, the issuing company has you locked in," he said.
When they issued company shares, they retained a large block for themselves.
One involves corporate bonds held in the issuing company's Employee Stock Ownership Plan.
Lucky banks that jumped to lend to some 87,000 punters in the emirates on the issue earned considerably more in fees and interest than did the issuing company.
In a direct offering, shares are marketed directly by the issuing company, typically to customers, supporters and, these days, social media followers.
With credit cards, the issuing company, often a bank, bears many of these costs, passing some of the expenses along to merchants through the usage fee.
The 2008 report cited problems in 27 of the 61 Deloitte audits it reviewed, including three where the issuing company was forced to restate its financial statements.
Second are bonds that are put into a trust created by the issuing company.
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