GM realigns investment in its Hughes subsidiary

Article Abstract:

General Motors Corp will reduce its investment stake in Hughes to 35% from around 68% in an effort to enhance the value of Hughes stock. The deal will swap $8 billion worth of Hughes shares owned by GM for GMH shares, which track Hughes' earnings. Analysts say Hughes stock is an underperformer because GM's core automotive business is vastly different from Hughes' core business of satellite communications.

General Motors Corp., Hughes

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Penske to take over troubled auto chain

Article Abstract:

Penske Capital Partners' owner, Roger Penske, would secure a majority of board seats and 38% of the stock of UnitedAuto Group once the former's planned investment of $83 mil into the struggling UnitedAuto is approved by the SEC. Penske stressed that he was impressed with the strategic spread of UnitedAuto outlets, mainly in the South and West. UnitedAuto, the second-biggest dealership chain in the US, operates 66 dealerships in 16 states.;

Venture Capital Companies, Miscellaneous Intermediation, Motor Vehicle Dealers, Motor Vehicle and Parts Dealers, Automotive dealers, UnitedAuto Group

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Satellite radio, Ford link up service

Article Abstract:

Ford Motor Co has agreed to put satellite radio in its vehicles in an agreement with CD Radio. The service, which is expected to be launched in 2001, will allow passengers to tune in to CD Radio's broadcast virtually anywhere in the US. Ford expects the service to cost $9.95 a month. CD Radio intends to broadcast 100 channels through three satellites that will directly orbit over the US.

Strategic alliances, Ford Motor Co.

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