These potential actions are intended to restore GMAC's investment-grade credit rating and to renew its access to low-cost funding, ... In addition, these actions are designed to preserve and to grow the synergies between GM and GMAC, especially cost-effective auto financing, and sustaining GMAC's diversified earnings growth.
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While it may have taken some time to reach this solution, I think it was time very well spent,Richard Wagoner
China also is going well for us, particularly now that we have the market covered from the bottom to the top.
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We have decided to substantially alter the pension benefits for current U. S. salaried employees so that we can provide a competitive and fair benefit but also reduce the financial risks to GM. While we will announce specific details early next month, we intend to freeze accrued benefits in the current plan and implement a new plan for future accruals which could include a defined contribution or cash balance plan.
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Why is every year the industry sales figure bigger than what we tell you it's going to be at the beginning of the year ... Obviously the traditional models are not working. Is that going to continue indefinitely I don't know. I suspect so. Why is it up A lot of wealth in the U.S. economy and vehicle prices relative to that wealth are the lowest they've been in 20 or 30 years.
Richard Wagoner
Over the years we've shown the Saturn brand can carry a premium in the segment that it plays in,
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