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

To: David C. Burns who wrote (1571)	4/15/1999 7:31:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

David: I think your interpretation of Lynch's remarks is the likely one.

To: David C. Burns who wrote (1571)	4/17/1999 12:43:00 AM
From: porcupine --''''>	Respond to of 1722

GM to build up cash in case of strike-analysts 12:15 PM ET 04/15/99 "He wants to have a nice piggy bank (to fund continuing operations) in case relations with the UAW (United Auto Workers) sour," said analyst Gary Lapidus of Sanford Bernstein. Lapidus said Losh's comments indicated that GM was making the move for strategic purposes and did not indicate that a strike was probable. The UAW's three-year collective bargaining agreement, which expires on Sept. 14, covers 220,000 workers at GM, as well as 101,000 at Ford Motor Co and 75,000 at DaimlerChrysler. Lapidus said the slower rate of buying back shares in the second quarter could negatively affect earnings, which have been boosted by the repurchase of $480 million worth of stock in the first quarter, and $6.8 billion since January 1997. After GM spins off the remainder of its Delphi Automotive Systems Corp. unit in late May, the company would probably only need around $10 billion in reserves versus their current target of $13 billion, Lapidus said. GM ended the first quarter with $16.2 billion in cash, marketable securities and assets of its employees' trust. ((Michael Ellis, Detroit newsroom, 313-870-0200))