For the first time since 1980, General Motors ordered deep cuts in the dividends it pays to stockholders -- from 75 cents to 40 cents a share. GM also said it will curtail executive bonuses this year and phase out 15,000 white-collar jobs by 1993. The dividend cut alone will save $840 million a year.
Industry experts foresee even worse news ahead for the company: they project a $1.4 billion loss, the firm's worst ever, when fourth-quarter 1990 earnings are announced this week. But Wall Street analysts applaud GM's moves, saying they indicate that the world's largest automaker is preparing for...
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