GM <GM> PRAISES GREENSPAN APPOINTMENT
General Motors Corp said in a corporate
statement its executives can think of "no person better
qualified" than Alan Greenspan to replace Paul Volcker as
chairman of the Federal Reserve Board.
    "Greenspan possesses great understanding of both the
American and international economies and the interaction
between them," the company said in a statement. "He also
possesses enormous good judgement."
    No other possible replacement for Paul Volcker would be
more likely to have as steadying an influence on and be as well
received by financial markets here and overseas as Alan
Greenspan, it said.
    GM also said the U.S. owes Volcker "a great debt of
gratitiude" by wringing inflation out of the U.S. economy."
 Reuter
