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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (954)	11/9/1998 8:49:00 PM
From: porcupine --''''>	Respond to of 1722

GM vehicles extends oil change intervals to 15,000 miles LAS VEGAS, Nov 2 (Reuters) - General Motors Corp . said on Monday it will put a computerized oil monitoring system in nearly all its North American vehicles which will tell drivers when to change their oil. The GM Oil-Life System, to be rolled out over the next five years, will monitor engine revolutions, operating temperature and other factors to automatically determine when a vehicle's oil should be changed. Car owners are now usually advised to change their oil every 3,000 miles, but the system could safely extend the mileage between oil changes to up to 15,000 miles, GM said at the Specialty Equipment Manufacturers (SEMA) show in Las Vegas. "Every driver operates with different driving styles and under different conditions. The oil-life monitor compensates for that, allowing a customized diagnosis of each vehicle's oil change needs," said Michael Grimaldi, a vice president and vehicle line executive for full-size trucks. The system is already available on the Chevrolet Corvette, Cadillacs with the Northstar engine and some other car models, GM said.

To: porcupine --''''> who wrote (954)	11/9/1998 8:54:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

GM's bond yields remain well below earnings yield of common stock (earnings/price), implying stock buybacks continue to be a better use of cash than paying down debt: GMAC global issue two-times oversubscribed NEW YORK, Nov 2 (Reuters) - Investor demand for the global bond issue of General Motors Corp. unit General Motors Acceptance Corp., priced on Monday, was double the issue's $1.25 billion size, and avid buying was seen from outside the U.S., a Merrill Lynch official said. "We were two-times oversubscribed, and from our perspective the most important thing is that over 30 percent of the issue was placed outside the U.S., far and away the biggest percentage on a corporate global in quite some time," the official said. Merrill Lynch was co-lead manager of the single-A-rated offering with Salomon Smith Barney. The issue, which was first announced on Friday, was increased from initial plans for $1 billion. The bonds carry a 5.75 percent coupon, priced to yield 5.84 percent, or 134 basis points over Treasuries. The yield spread was one point narrower than the initial guidance, another sign of strong demand. "This shows that both sides of the Atlantic are again focused on corporate product," the official said, adding that most of the non-U.S. investors were in Europe, with a small portion in Asia. A total of over 200 investors bought the bonds, ranging from middle-market to major U.S. institutions, he said. GMAC last tapped the global bond market in August with a $1.0 billion issue of five-year floating rate notes carrying an interest rate of 10 basis points over Libor. (( Terence Gallagher, US Corp Bonds Unit, 212-859-1674 ))