Wednesday, August 09, 2006

Buyouts Improve GM's Balance Sheet $23 Billion

As reported by the Detroit News, GM got a jolt of financial good news for a change. Thanks to better-than-expected impact of buyouts and other restructuring on GM's future obligations for pension and healthcare costs, GM is looking at liabilities decreased by $23 billion.

Who knows whether this will be enough to raise the general's credit rating. Also, there's not much impact on current cash flow, but every little bit helps.
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