Wednesday, February 13th, 2008
UPDATE 3GM sees significantly improved operating results
(Adds details on liquidity, background)
By Poornima Gupta
DETROIT, Jan 17 (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research) said
on Thursday it sees significantly improved operating earnings
and cash flow in the next two to three years, but expects high
fuel prices and declining consumer confidence to be a drag on
U.S. sales this year.
GM said in a presentation to Wall Street Analysts that it
plans to reduce its annual U.S. labor costs by about $5 billion
by 2011, mainly through the labor agreement reached with the
United Auto Workers union last year.
The new UAW contract allows the U.S. automaker to shift
hourly retiree health-care liabilities to a union-run trust
fund and hire new work
