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Union leaders said they would not change their current contract to help GM cut healthcares costs. GM received a
subpoena related to an SEC investigation of the Delphi accounting scandal. Also helping to drag down shares are
bankruptcy concerns that are “unsubstantiated” according to a J.P. Morgan analyst. A UAW local chairman said that
business isn’t bad enough for workers to adjust their benefits. GM share closed at $26.66, the lowest point since Oct.
20, 1987, the day after the 1987 stock market crash.