6/30/2006: GM Might Get PBGC Pension Waiver on GMAC Sale (Bloomberg)

Excerpt: General Motors Corp. may receive U.S. government approval before September for an agreement to sell a majority of its finance unit for $14 billion, people familiar with the matter said. The Pension Benefit Guaranty Corp., a federal agency that insures U.S. pensions, will likely approve the sale without putting conditions on how GM uses proceeds from the transaction, said the people, who didn't want to be identified because the agreement isn't final.