UPDATE 1-GM CEO buys 50,000 of automaker's shares


(Adds details, background) DETROIT, March 21 (Reuters) - General Motors Corp. Chief Executive Officer Rick Wagoner on Monday bought 50,000 shares of the automaker, which has been hit on the stock market after its warning last week of weaker-than-expected profits. GM said last week that its 2005 earnings will be as much as 80 percent below its previous target, prompting GM's debt ratings to edge closer to "junk" status and its shares to drop to their lowest levels since December 1991. ...

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