Lear gets SEC subpoena tied to GM probe

[Ghost Dog]

The subpoena calls for Lear to provide documents related to payments or credits by the company to GM from 2001 until the present day, Lear said in an SEC filing submitted on Thursday.

GM said in October the SEC had issued subpoenas as part of a probe into its pension accounting, retiree benefits and transactions with its former unit Delphi Corp. (DPHIQ.PK: Quote, Profile, Research), also an auto parts maker. GM, the world's largest automaker, said at the time it was cooperating with the investigation.

Lear said the subpoena it received was tied to the same SEC probe of GM, and that it was cooperating with regulators on the issue.

http://today.reuters.com/investing/finance...OS-LEAR-SEC.XML

[CARBIZ]

Isn't Lear responsible for the amazing, segment leading interiors that GM has been boasting over the past few years?????

[Ghost Dog]

I think GM may be be doing a lot more restating of Earnings. The Creativity of the Wagoner era may be catching up with them.

[evok]

This has seemed to have missed any significance in the mainstream press. Boland was CFO for NA

http://www.detnews.com/apps/pbcs.dll/artic.../602240397/1001

People on the move

Autos

Mark Newman , assistant treasurer for General Motors Corp., was named finance chief of the automaker's North American operations. He replaces Mary Boland , who left to take a financial post with a company outside of the auto industry.

Edited March 11, 2006 by evok

[Newbiewar]

hrmm... i really hope nothing is going on behind the curtains... i love GM and dont want to see it be the next enron...