GM under SEC investigation over pensions

The Times reports:

General Motors (GM), the ailing US carmaker, is being investigated by the US financial watchdog over pensions accounting and its relationship with a parts supplier.


GM, which faces losing its position as the world's largest carmaker to Toyota of Japan within the next year, has already announced losses of $3.8 billion (£2.1bn) so far this year. The investigations are an unwelcome distraction as GM battles to revive its share of the US market from its lowest level since the 1920s.

The carmaker clashed with the US Government earlier this month when it challenged a federal calculation that its pension fund was $31 billion (£17 billion) short of what it needed to pay its workforce.

You haven't seen the low in the stock.Bet on that.