General Motors Dips to New 23-Year Low - aftermarketNews

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General Motors Dips to New 23-Year Low

General Motors shares fell more than 1 percent last Thursday (Dec. 29), touching levels not seen in about 23 years at $18.33. Credit Suisse First Boston estimated the troubled automaker will turn in a December U.S. sales decline in a range of 12 percent -14 percent, representing a steeper fall off than its domestic competitors. Also adding to the pressure, the Wall Street Journal reported that accounting rule changes in 2006 could take a big bite out of the company's shareholder equity.

aftermarketNews Staff
By aftermarketNews Staff

From AFX News Limited

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DETROIT — General Motors shares fell more than 1 percent last Thursday (Dec. 29), touching levels not seen in about 23 years at $18.33. Credit Suisse First Boston estimated the troubled automaker will turn in a December U.S. sales decline in a range of 12 percent -14 percent, representing a steeper fall off than its domestic competitors. Also adding to the pressure, the Wall Street Journal reported that accounting rule changes in 2006 could take a big bite out of the company’s shareholder equity.

Copyright 2006 AFX News Limited. All Rights Reserved.

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