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Schaeffer's Early Edge: General Motors, Monsanto, Public Service Enterprise Group, and Yahoo!

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  Published in House and Home on Tuesday, February 10th 2009 at 9:48 GMT, Last Modified on 2009-02-10 09:49:20 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--Today's column includes job cuts and pay reductions at General Motors Corporation (NYSE: GM), disappointing guidance from Monsanto Company (NYSE: MON), a new solar endeavor from Public Service Enterprise Group Inc. (NYSE: PEG), and a downgrade for Yahoo! Inc. (NASDAQ: YHOO). Each day, Early Edge focuses on the hot stocks in the news and gives you a unique insight into each stock's sentiment backdrop. Our time-tested contrarian approach centers on options, and gives you the trading tools to approach the day with a much-needed edge over the investing herd.

General Motors Corporation

General Motors Corporation announced today that it will cut 10,000 salaried employees from its payroll, bringing its global salaried workforce from 73,000 to 63,000. Approximately 3,400 of GM's U.S. workers will be affected. Additionally, the remaining salaried employees will be hit with pay cuts. Executives will face a 10% base pay reduction, while others will see their wages drop by 3% to 7% as of May 1.

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