Wednesday, July 04, 2007

General Motors

General Motors shares hit a two year high after the automaker said it had agreed to sell its Allison Transmission commercial and military business to an investment conglomerate and a private equity firm. The deal adds funds to GM's cofers as it gears up for crucial contract negotiatioms with unionized workers, although it also means losing a profitable division. GM shares rose 74 cents, or 2 percent to $38.15 after climbing as high as $38.66.

No comments: