Will GMAC Demand Notes be good?

I don't think us Autobloggers have it out for GM any more than the next person on the street, but the tip box just keeps overflowing with hardluck news about the embattled automaker. This one concerns GMAC Demand Notes, kind of a temporary high-yield savings account for GM employees. There's a bit of concern going around that the cash placed in these Demand Notes might not be there when employees come calling for it. Demand Notes currently give 4.88 percent interest, which is quite a bit better than a simple savings account, but not dramatically better than other high-yield programs available to the public. Part of the risk of having the extra couple points of interest is that if GM runs into trouble, the Notes could be nearly worthless.