We hope that is going to be the first step in being pro-active and more responsive to their needs, Arle said. GM DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE INFORMATION OR THE RELIABILITY OF ANY ADVICE, OPINION, STATEMENT OR OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH THIS SITE OR ANY LINKED WEB SITE. The day the deal was announced, Sc, 2023 Knight Sac Media. But Raytheon beat it yesterday in part because Raytheon is so much bigger, and could more easily finance the $5.1 billion in stock transferring to GM, plus $4.4 billion in debt. if this dea, It won't do any good to write management as they have a vested interest in s, I think converted Hughes stock will do well too, but I think that's it worth, Looks like GMH shareholders are shafted again by GM, whose Finance leader says w, I would guess that GMH would be a good speculative buy if there's a buyout o, SBC Said to Be in Talks to Buy DirecTV February 8, 2003 By, Stock is nearer its lows than its highs, and arguments that professional investo. The linked sites are not under the control of GM and GM is not responsible for the content of any linked site or any link contained in a linked site. In the long-range, GM has a powerful incentive to see that the stock price increases. Besides selling its defense businesses, which had total 1996 revenue of GMs common stock can be purchased through a broker or a financial institution that deals in securities. Although it would no longer control 68% of Hughes, GM said its remaining 35% stake would still be worth about $18 billion. How can I obtain GMs financial documents? GMs fiscal year, or 12-month accounting period, is based on the calendar year and ends on December 31. GM MAY MAKE ANY OTHER CHANGES TO THIS SITE AND THE INFORMATION CONTAINED IN THIS SITE AT ANY TIME WITHOUT NOTICE. The book-entry owners of the security are registered on the books of the company and, in lieu of certificates, shareholders receive statements of holding. Current price is around $63/share of GMH. recommendations. This copy is for your personal, non-commercial use only. Anyone here seeing GMH as a buy now at current price? One GM official said he didnt believe the stock price had reached its intrinsic value.. opinions, forecasts or predictions of General Motors Company or its management. It is a so-called hybrid stock, owners of which have no equity in the company and are entitled only to dividends amounting to 25% of GM Hughes profits. The two-day meeting this week will feature displays of Hughes sophisticated technology inside the atrium at the firms new granite headquarters overlooking the Pacific in Los Angeles Westchester district. No. In 1995 Hughes Electronics was the largest supplier of commercial satellites and eventually became DirectTV. Share prices of General Motors Hughes Electronics Corp., the GM subsidiary that holds Hughes Aircraft, are lagging below what company officials believe is their intrinsic value. And, because of a guarantee that GM gave to Hughes former owner, GM could be liable for huge financial penalties if the price does not rise in the next two years. The sale completes the unraveling of the high-tech acquisitions by former GM chairman Roger Smith in the mid-1980s. GM would receive $3.8 billion from Rupert Murdoch's News Corp. Ltd. for its 19.9 percent interest in Hughes, including about $3.1 billion in cash and the remainder in News Corp. preferred. If you access this Site from outside the United States, you do so on your own initiative and you are responsible for compliance with all applicable local laws. CAPTION: Howard Hughes in 1947 in his flying boat, the Spruce Goose. GM later paid the disruptive Perot $750 million to leave the company, and last year it spun off the data consulting firm. General Motors Corp. unveiled the long-awaited sale of the defense businesses of its Hughes Electronics Corp. unit to Raytheon Co. for a rich $9.5 billion in stock and debt. The General Motors H shares, which track the value of the Hughes Electronics businesses, were unchanged at $62.625. The remaining 66% interest in Hughes will be held by three GM employee benefit trusts (managed by an independent trustee), which combined will hold an approximately 20% interest in Hughes, and by the general public, which will hold an approximately 46% interest in Hughes. cumulative factor which encapsulates all splits since the date shown above. In August 1992, General Dynamics sold its Missile Systems business to Hughes Aircraft Company (a division within Hughes Electronics) in exchange for approximately 21.5 million shares of. Your continued use of the Site after any changes are posted will be considered acceptance of those changes. Changes will be effective when notice of such change is posted. The outcome was a painful blow to Northrop Grumman Corp., which struggled furiously to win GM's auction of Hughes but now faces the possibility of eventually falling into the ranks of subcontractors dependent on the three big defense players for work. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. THE INFORMATION CONTAINED HEREIN MAY CONTAIN INACCURACIES AND TYPOGRAPHICAL ERRORS. operations. Anyone have a hunch on how the valuation on these shares will change? GM had the Salomon Bros. and First Boston investment firms study the trading volume of GMH, Arle said. that any opinions, estimates or forecasts regarding General Motors Company's It traded this week at a record price of $55, up from a low of $40.25 during the October market break, and finished yesterday at $54, down 75 cents. business to GM's big parts-maker, Delphi Automotive Systems. GM officials said most of the sale's proceeds will go to Hughes Electronics, which remains a part of GM -- it builds commercial satellites, runs cellular telephone networks, and, using the name DirecTV, offers satellite television service using small rooftop dishes. Shares of GM climbed after the announcement Tuesday afternoon, rising 4 . endorsement of or concurrence with such information, conclusions or GM cast the General Motors Minimum 15 minutes delayed. How can I be notified of GMs SEC filings and other important announcements or events? offering. So consumers, Now that I think about, I actually heard some of the testimony. Both stocks saw early swings moderate in early afternoon trading. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. GMs shares lost 81 cents to close at $63.56, also on the NYSE. GM is required to file periodic reports electronically with the SEC through Edgar. gm hughes electronics corporation stock value. The majority dont understand us well and we are taking steps to improve that, said John Arle, chief financial officer of GM Hughes Electronics, the Detroit-based holding company that owns Hughes Aircraft and Delco Electronics. The shareholders did not receive any consideration for their holdings and the stock no longer has value. we just have to clear the doj, the fcc will be no problem. For non-personal use or to order multiple copies, please contact Recent Hughes press releases, for example, now emphasize that Hughes is a GM subsidiary. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. pushes companies to punish white-collar crime by clawing back exec pay, PG&E can keep operating Diablo Canyon at least for now, feds say. In addition to hosting analysts, Hughes is stepping up other efforts to be noticed by the investment community. Hughes Electronics Corporation was formed in 1985 when Hughes Aircraft was sold by the Howard Hughes Medical Institute to General Motors for $5.2 billion. Co. for a rich $9.5 billion in stock and debt. That is seen Computershare maintains the record of GMs stock ownership by registered shareholders (those whose accounts are maintained in their name by Computershare). Hughes Electronics designs, manufactures, and markets advanced electronic systems, including providing . Investors whose shares are held by a broker, a bank or other nominee as custodian on their behalf are considered beneficial shareholders. General Motors acquired Hughes Aircraft in 1985 from the medical institute for $2.7 billion in cash and an estimated $2.5 billion of GMH stock. The carefully planned affair is expected to draw 50 securities analysts, who will be flown to various Hughes sites aboard a fleet of helicopters. The program was expanded in 2016, 2017, and more recently in August 2022, where the Board of Directors increased the available capacity under the program to $5.0 billion of common stock (for an aggregate total of $15.7 billion authorized). Return calculations do not include reinvested cash dividends. General Motors Company began its operations when it acquired substantially all of the assets of Motors Liquidation Company (formerly, General Motors Corporation) in July 2009. only, and is not intended for trading purposes. GM undertakes no obligation to update publicly or otherwise revise any forward-looking statements. GM's sale of Hughes is one of the most complex in memory, investment bankers say, because GM sought to minimize taxes and because Hughes Aircraft is part of GM's Hughes Electronics Corp., which offers its own class of stock. But the deal is most striking in the way it reshapes Raytheon, based in Lexington, Mass. GM and its directors and executive officers, Hughes and certain of its officers, and EchoStar and certain of its executive officers may be deemed to be participants in GM's solicitation of consents from the holders of GM $1- 2/3 common stock and GM Class H common stock in connection with the proposed transactions. I had not seen it. The Company intends to opportunistically purchase shares under this program at the discretion of management. Distribution and use of this material are governed by * In 1916, at age 11, Hughes built a radio transmitter and receiver from parts taken from his home's doorbell. Whether you require high-level electronic assemblies or bare Printed Circuit boards, you can expect superior quality, prompt customer service and on-time delivery. GM reserves the right to terminate any link or linking program at any time. Does GM pay a dividend on its common stock? The historical dividend information provided is for informational purposes In March 2015, GMs Board of Directors authorized a share repurchase program to repurchase shares of GM common stock. Ralph Vartabedian is a former national correspondent at the Los Angeles Times. Because GM would end up as a stockholder in the acquiring company, the auction was a sort of beauty contest in which Raytheon and Northrop Grumman each argued its stock would do better with a Hughes purchase. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved, 50% off + free delivery on any order with DoorDash promo code, Wayfair promo code: 10% off any single purchase, 60% off running shoes and apparel at Nike without a promo code, Score up to 50% off Nintendo Switch video games with GameStop coupon code. General Motors Corp. announced yesterday it will sell its Hughes Aircraft Co. division to Raytheon Co. for $9.5 billion. Hughes Electronics Corporation, a wholly owned subsidiary of General Motors Corporation, was formed on December 31, 1985, when General Motors acquired Hughes Aircraft Company from. As a result, GM has been repurchasing GMH shares. "In just over a year, Raytheon has completely transformed its future business focus," said Loren Thompson, a defense industry fellow at the nonprofit Alexis deTocqueville Institution. GM officials acknowledge that they are taking a closer look the content of those news releases. Do Not Sell or Share My Personal Information, Tesla Mexico plant means $10-billion investment, Nuevo Leon governor says, Assistants kindly request that you stop calling them assistants, Working more on the weekends? How do I know if I am a registered shareholder? Hughes decided to exclude reporters from the meeting, Arle noted. The deal transforms Raytheon overnight from a conservatively run New England conglomerate into the world's third-largest military contractor. General Motors Corporation - Class H stock represents Hughes Electronics Corporation. Our actual results may differ materially from forward-looking statements due to a variety of factors, including: (1) our ability to deliver new products, services and experiences that attract new, and are desired by existing, customers and to effectively compete in autonomous, ride-sharing and transportation as a service; (2) sales of crossovers, SUVs and full-size pick-up trucks; (3) our ability to reduce the costs associated with the manufacture and sale of electric vehicles; (4) the volatility of global sales and operations; (5) our significant business in China which subjects us to unique operational, competitive and regulatory risks; (6) our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control; (7) changes in government leadership and laws (including tax laws), economic tensions between governments and changes in international trade policies, new barriers to entry and changes to or withdrawals from free trade agreements, changes in foreign exchange rates, economic downturns in foreign countries, differing local product preferences and product requirements, compliance with U.S. and foreign countries' export controls and economic sanctions, differing labor regulations and difficulties in obtaining financing in foreign countries; (8) our dependence on our manufacturing facilities; (9) the ability of suppliers to deliver parts, systems and components without disruption and on schedule; (10) prices of raw materials; (11) our highly competitive industry; (12) the possibility that competitors may independently develop products and services similar to ours despite our intellectual property rights; (13) security breaches and other disruptions to our vehicles, information technology networks and systems; (14) compliance with laws and regulations applicable to our industry, including those regarding fuel economy and emissions; (15) costs and risks associated with litigation and government investigations; (16) compliance with the terms of the Deferred Prosecution Agreement; (17) the cost and effect on our reputation of product safety recalls and alleged defects in products and services; (18) our ability to successfully and cost-efficiently restructure operations in various countries with minimal disruption; (19) our ability to realize production efficiencies and to achieve reductions in costs; (20) our ability to develop captive financing capability through GM Financial; and (21) significant increases in pension expense or projected pension contributions.