Nov 12, 2004

GM acknowledges reality

"General Motors may adjust a key interest rate determining its estimate of healthcare costs for its US workers and retirees, leading to a significant increase in provisions for future benefits.

GM said in a regulatory filing on Thursday that it would probably reduce the discount rate it uses to calculate healthcare costs to 6 per cent in 2005 from its current level of 6.25 per cent." - FT

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