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Tuesday, Nov 13
2012, 2:04 PM
Heard at General Motors' (GM -1.2%) presentation at the Barclays 2012 Global Automotive...
Heard at General Motors' (GM -1.2%) presentation at the Barclays 2012 Global Automotive Conference: 1) The rationale for the automaker's new $11B facility is to help it bring capacity in line with peers and to send a positive message to ratings agencies and capital markets. 2) Comments from execs indicate that de-risking and reducing pension plan obligations will remain a focus. To date, the automaker reduced pension assets by $30.8B with a reasonable 107% cost-to-settle ratio. 3) Use of cash priorities includes a straight line approach to investing without regard to cycle and strategic M&A that offers good economic return. (webcast)