Between news that GM would restate its 2001 earnings and that Fitch and Moodys have both cut the company's credit rating, the General's stock price has been taking a beating. Yesterday, it fell to $24.62, a 13-year-low (of course, if inflation is considered, then things are even worse than that). Adding to the series of the thousand cuts is word that Delphi's pension liabilities that GM may have to assume are more in the range of $12B - about $1B more than previously reported.

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