Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (479)	7/8/1998 9:22:00 PM
From: Freedom Fighter	Read Replies (1) of 1722

Reynolds, I have a couple of questions about GM. I just started looking at the 10K for GM. It is quite confusing as to how much they actually made last year or what they are likely to generate in free cash over the long haul. Here are some of the items that are not clear. 1. There was an extraordinary large writedown last year(depreciation) and the regular depreciation amount seems rather high in relation to capital spending. 2. There was a large one time gain due to the spinoff. 3. There is 48 billion of unfunded pension and post retirement liabilities on the balance sheet. This is almost equal to the entire market cap of the company. (that's what it looks like) I'll continue looking at it, but it is a bit confusing as to what is really going on. Wayne

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