GM stock taking major New Year's hit
This year may yet prove to be better than 2006 in financial terms for GM, as the Financial Accounting Standards Board (FASB) is considering making it mandatory for companies to show their pensions as a liability on their balance sheets rather than a net asset. Such a requirement would completely erase GM’s shareholder equity. While pension information is included in financial statements, making it part of a company’s financial profile would ensure that investors considered it before they buy.
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