UPDATE 1-GM adds Hughes stock to employee pension plans

Newswire

(Adds background and details throughout, byline) By Michael Ellis DETROIT, Feb 28 (Reuters) - General Motors Corp. said on Friday it will contribute 150 million of its Hughes Electronics Corp. shares to its employee benefit plans, which are severely underfunded due to declining stock markets and soaring health care costs. The contribution, worth about $1.5 billion at current market prices, will cut GM's operating expenses for its benefit plans in 2003. It will also reduce GM's economic ...

Premium Content (PAID Subscription Required)

"UPDATE 1-GM adds Hughes stock to employee pension plans" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×