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Wait a second, I didn't realize things were all better now at the General. Last I checked they've still yet to show a real profit β€” yet here they are, making things seem like they've returned to the halcyon days of early 2005 β€” by, of all things, reviving retirement matching in white collar 401(k) accounts. Nice, because there's no better signal to send when you're still fighting for profitability, with a potential proxy fight looming ominously in the near future, than an "all clear" signal. And not only is this an "all clear", it's even a boost of 250% from the 20 cents on the dollar level it was at back in 2005. Bravo, General Motors β€” you've yet again stuck your head up for a scythe just as you've convinced everyone to duck.

UPDATE: Ok, it turns out the shift from 20 cents to 50 cents and the return to a retirement match was actually released in March β€” at the same time as the original hold was placed on matching dollars, a vital piece of information omitted from Susan Tompor's article in the Freep. But GM's Tom Wilkinson now got us set straight β€” and yeah β€” ha-ha, we were only kidding about the β€” err, umm β€” scythe thing. You win this round, Tom!

GM revives 401(k) matches for salaried workers [Freep]

Related:
Bullshit! GM Obfuscation Increases By 1,385% For September, Sales Down 6.8%; Breaking! GM July Sales Down 19.5%, Obfuscation Wins! [internal]