OPTIONS BEAT-Investors guard against GM 'catastrophe'

Newswire

By Doris Frankel CHICAGO, March 22 (Reuters) - Even as General Motors Corp. announced a sweeping deal to cut its blue-collar work force, some institutional investors remained cautious on its outlook and kept long-term option hedges in place as a form of "catastrophe insurance," traders said on Wednesday. GM and its former subsidiary, bankrupt auto parts supplier Delphi Corp. , unveiled a plan to offer early-retirement packages to over 125,000 union workers. The deal could reduce the ...

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