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Saturday, 3 September 2011

Pension gap freezes cash with no GM buyback or dividend seen

DETROIT (Bloomberg) -- General Motors Co., the holding cash until it learns the extent of the obligations of retirees at year's end, you can find a pension deficit that rivals its market value and delays dividend or repurchase.
GM pension deficit may reach $ 35 billion when calculated using a lower return on assets and a reduced rate for the valuation of future payments, estimates Kenneth Hackel, president of CT Capital LLC in Short Hills, capitalization NJ GM's market sank as low as $ 33,100,000,000 last month.

"The financial risk because of the pension is higher than people understand," Hackel, who wrote two textbooks on valuing securities, spoke these words. "The cold reality is if you used a conservative discount rate and you wanted to close out the plans, you would have to raise about $35 billion."Vcommindia News

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