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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 (1063)	12/27/1998 8:31:00 PM
From: porcupine --''''>	Respond to of 1722

GM's Share Buybacks Still Stalled "GM's Wagoner sees '99 U.S. market share gains" DETROIT, Dec 18 (Reuters) - General Motors Corp. President G. Richard Wagoner on Friday said the automaker expects to gain market share in the United States in 1999, as GM continues to recover from two summer strikes that shut many of its plants. Wagoner, in a briefing with reporters, said GM has not yet restarted its most recent share repurchase program, which was suspended earlier this year because of the labor strikes. The world's largest automaker had bought back $6.6 billion of its total $9 billion stock repurchase program before suspending the program. GM Chief Financial Officer Michael Losh said in October the company would give "serious reconsideration" to restarting the program by the end of 1998. Wagoner, in response to a question about shutting plants, said, "I hope not to have to take any more action on capacity next year." Wagoner said the company's Fort Wayne, Ind., full-size pickup truck plant completed its ramp-up on the new trucks this week, one month ahead of schedule. Wagoner said GM has had good discussions with the United Auto Workers union, but still has yet to resolve competitive issues separating the company and the union. He said GM would welcome the opportunity to be the first automaker the UAW selects to settle next year's labor contract. (Detroit Newsroom, 313-870-0200)

To: porcupine --''''> who wrote (1063)	12/27/1998 8:41:00 PM
From: porcupine --''''>	Respond to of 1722

GM to Raise Over $2 Billion by Selling Less Than 18% of Delphi "GM unit Delphi sees $14-$18/shr IPO price" WASHINGTON, Dec 23 (Reuters) - Delphi Automotive Systems Corp., a unit of General Motors Corp. , said Wednesday it expected an initial public offering price of between $14 and $18 per share of its common stock. The Troy, Mich.-based automotive systems supplier said in a Securities and Exchange Commission filing that the proposed maximum aggregate offering price was $2.07 billion, including a preferred share purchase right to be offered with each of the 115 million common shares. After the offering, General Motors will own about 82.3 percent of Delphi's common stock. "General Motors has advised us that it currently plans to complete its divestiture of our company later in 1999," the filing said. Application has been made to list Delphi's common stock on the New York Stock Exchange un the symbol . Underwriters named in the filing were Morgan Stanley Dean Witter, Goldman Sachs & Co, Merrill Lynch & Co, Donaldson Lufkin & Jenrette and Schroder & Co Inc. The underwriters have an option to purchase an additional 15 million share to cover over-allotments. Proceeds from the sale will be used for general corporate purposes and to fund working capital needs. ((Washington newsroom, Phone: 202-898-8362 Fax: 202 898-8383, E-Mail washington.equities.newsroom@reuters.com))

To: porcupine --''''> who wrote (1063)	12/27/1998 8:43:00 PM
From: porcupine --''''>	Respond to of 1722

GM Set to Downsize Isuzu Japanese car maker Isuzu Motors Ltd. announced Thursday it will eliminate 4,000 jobs and reduce debt as part of a restructuring drive to shore up profitability. Isuzu, an affiliate of U.S.-based GENERAL MOTORS, said the plan will help it achieve its goal of 710 billion yen ($6.1 billion) in domestic auto sales and a pretax profit of 10 billion yen ($86 million) in fiscal 2000. The announcement comes amid a wave of consolidation within Japan's auto industry, which has been battered by flagging domestic demand and Asia's financial crisis. (AP)