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General Motors Co. said today it is buying back all of the Treasury Department's $2.1 billion in preferred stock, and has obtained a $5 billion line of credit from a group of banks.

The automaker said it is taking a number of steps to pare its debt by $11 billion, including making a contribution of at least $6 billion in cash and stock to its underfunded employee pension plans.






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GM Moves To Buy Back Over 2 Billion Dollars Of Federally Owned Stock

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