Founded in 1908, General Motors ("GM") is a leading global manufacturer of automobiles. Although the company has maintained its global presence since 1931 and offers a wide range of brands, is now considered endangered automotive manufacturing leader. GM has seen the financial crisis in 1992 and successfully tried to revive its sales and profits by implementing revitalization plan. Success continued for ten years, but the company has seen stiff competition and the decline of the global market in this period. Since then, the company reported another loss in 2006. The decrease in sales, increasing competition and hefty personnel costs are considered key obstacles to success GM. In addition, the introduction of a new pension accounting standard, the statement of Financial Accounting Standards ("SFAS»), № 158, is expected to further deterioration in financial performance GM, recommending full recognition of pension surplus or deficit of the company's balance sheet. GM management strategy focuses on the effective management of risks and returns of pension schemes, so that the new accounting standard pension will not adversely affect the financial performance of GM. "Hide
on Yanling Guan, Zeba Khan Source: University of Hong Kong, 15 pages. Publication Date: November 11, 2009. Prod. #: HKU873-PDF-ENG
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