November 16, 2006

GM appoints ex-AT&T officer top accountant: Trying to pacify the SEC

A story about General Motors problems with the SEC regarding bookkeeping practices includes comment by law professor Peter Henning, a former SEC attorney. GM has appointed a new controller and chief accounting officer. "GM may be trying to elevate its accounting position to try to give it more heft," Henning said. He speculated that the action might be intended to head off any federal enforcement action against the automaker for certain accounting practices.

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