Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Gm Gets The Bad News Ready


In Business This Week

GM GETS THE BAD NEWS READY

It's almost time to close the books on 1992 at General Motors. GM managers have been haggling about the size of proposed yearend write-offs to be presented to the board at its Feb. 1 meeting. A review by J. P. Morgan & Co. recently recommended that GM increase its reserves for such items as pensions and plant closings. A source says the auto maker's new management team, which wants to put the bad news to bed, backs such a move. But GM's old guard is resisting a big charge as an admission of past errors. Some of GM's future is certain. Former Chairman Roger Smith on Jan. 27 announced his retirement from the board. And at some point, GM must take a $16 billion to $24 billion charge for retiree health benefits.EDITED BY DEIDRE A. DEPKE


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus