Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MythMan who wrote (250698)	7/17/2003 9:59:44 AM
From: Perspective	Read Replies (2) of 436258

And GM is so clever, too: yahoo.smartmoney.com GM said its annual profit haul could reach $5 a share, 50 cents above analysts' current estimate. It is unclear whether the Street had factored in higher pension costs. Instead of replenishing its underfunded retirement fund out of earnings, the company recently sold a record $17.5 billion bond offering and used the proceeds to reduce the shortfall. Because GM assumes its pension investments will return more than what it will pay out in interest on the bonds, the net effect will be to boost reported profits. GM shares rose 1% in premarket trading. They're so freakin' brilliant - why aren't all companies so smart? <s> Why don't we just dispense with the money-losing car manufacturing business entirely, and just borrow money to invest in stocks. Oh, wait a minute - then we'd just have a hedge fund. Of course, there is that booming mortgage refi biz... Disclosure: short GM BC

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