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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 (998)	11/17/1998 10:10:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

1998 "Competitive Studies"; GM sees up to $350 million in charges DETROIT, Nov 16 (Reuters) - General Motors Corp. on Monday said it expects to take an after-tax charge of $300-$350 million following a competitiveness review of assets expected to be completed by December 31. GM made the disclosure in its quarterly filing with the U.S. Securities and Exchange Commission. The U.S. No. 1 automaker conducted a similar review in 1997 that resulted in a charge of $4 billion in the fourth quarter of 1997. The charge included under-performing assets, capacity reductions and assets held for disposal. In its filing Monday, GM said its asset review is being done in conjunction with its annual business cycle. "The 1998 evaluation and reviews anticipated to be completed prior to December 31, 1998, and other actions which may be taken, are expected to result in an after-tax charge of $300 to $350 million," the company said in the filing. (Detroit Newsroom, 313-870-0200)