Co. for a rich $9.5 billion in stock and debt. Buy any 2+ Stock Certs - Save Additional 20% in Cart! GM undertakes no obligation to update publicly or otherwise revise any forward-looking statements. Celebrating 39 Years of Business! In particular, they said Raytheon may move missile work from New England to Hughes's lower-wage plant in Arizona. A Hughes spokesman acknowledged half a dozen years ago that when any outsider would call the company, We wouldnt give him the time of day. That shroud over Hughes has long since been lifted, but the company remains an enigma to Wall Street. GM Hughes Electronics Corporation Stock Certificate from . This item WAS NOT SOLD. as a prelude to a move by GM to sell part of Delphi in an initial public Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. LINKS TO OTHER MATERIALS: As a convenience to you, GM may provide on this Site links to Web sites (the "linked sites") that are operated by other entities. General Motors acquired Hughes Aircraft in 1985 from the medical institute for $2.7 billion in cash and an estimated $2.5 billion of GMH stock. Your continued use of the Site after any changes are posted will be considered acceptance of those changes. But Raytheon beat it yesterday in part because Raytheon is so much bigger, and could more easily finance the $5.1 billion in stock transferring to GM, plus $4.4 billion in debt. The carefully planned affair is expected to draw 50 securities analysts, who will be flown to various Hughes sites aboard a fleet of helicopters. Yes, information related to GM Financials SEC filings, or other investor information, can be found at: https://www.gmfinancial.com/investors-information.aspx, GM is Positioned for Strong, Long Term Business Results. The deal transforms Raytheon overnight from a conservatively run New England conglomerate into the world's third-largest military contractor. exit from businesses other than making cars and trucks. The shareholders did not receive any consideration for their holdings and the stock no longer has value. Higher awareness of GMH stock by large investors could lead to an increase in the price of shares, which would be welcomed by General Motors. CAPTION: Howard Hughes in 1947 in his flying boat, the Spruce Goose. No. Do Not Sell or Share My Personal Information, Tesla Mexico plant means $10-billion investment, Nuevo Leon governor says, Car debt piles up as more Americans owe thousands more than vehicles are worth, Musks master plan for Tesla is built around sustainable energy economy, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Newsom, IRS give Californians until October to file tax returns, Before and after photos from space show storms effect on California reservoirs, Review: The Fiat 500X is a sporty ride in a small package, 1990 Vote Was the Spark That Drove Electric Cars, Nissan recalls over 800,000 SUVs because of defect that can cut off engine, Mexicos president says Musk will build Tesla EV plant in northern Mexico, Hyundai was poised to become Teslas top contender. In August 2022, the Board of Directors increased the capacity under GMs existing share repurchase program to $5.0 billion. Continue reading your article witha WSJ subscription, Already a member? This historic document was printed by the American Bank Note Company and has an ornate border around it with a vignette including satellites, ships, space shuttle, earth stations and more. One GM official said he didnt believe the stock price had reached its intrinsic value.. If you need help with your stock account held through a brokerage firm, contact your broker directly for assistance. Recent Hughes press releases, for example, now emphasize that Hughes is a GM subsidiary. Our actual results may differ materially from forward-looking statements due to a variety of factors, including: (1) our ability to deliver new products, services and experiences that attract new, and are desired by existing, customers and to effectively compete in autonomous, ride-sharing and transportation as a service; (2) sales of crossovers, SUVs and full-size pick-up trucks; (3) our ability to reduce the costs associated with the manufacture and sale of electric vehicles; (4) the volatility of global sales and operations; (5) our significant business in China which subjects us to unique operational, competitive and regulatory risks; (6) our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control; (7) changes in government leadership and laws (including tax laws), economic tensions between governments and changes in international trade policies, new barriers to entry and changes to or withdrawals from free trade agreements, changes in foreign exchange rates, economic downturns in foreign countries, differing local product preferences and product requirements, compliance with U.S. and foreign countries' export controls and economic sanctions, differing labor regulations and difficulties in obtaining financing in foreign countries; (8) our dependence on our manufacturing facilities; (9) the ability of suppliers to deliver parts, systems and components without disruption and on schedule; (10) prices of raw materials; (11) our highly competitive industry; (12) the possibility that competitors may independently develop products and services similar to ours despite our intellectual property rights; (13) security breaches and other disruptions to our vehicles, information technology networks and systems; (14) compliance with laws and regulations applicable to our industry, including those regarding fuel economy and emissions; (15) costs and risks associated with litigation and government investigations; (16) compliance with the terms of the Deferred Prosecution Agreement; (17) the cost and effect on our reputation of product safety recalls and alleged defects in products and services; (18) our ability to successfully and cost-efficiently restructure operations in various countries with minimal disruption; (19) our ability to realize production efficiencies and to achieve reductions in costs; (20) our ability to develop captive financing capability through GM Financial; and (21) significant increases in pension expense or projected pension contributions. Thus, GMs liability for the guarantee would amount to $50 million for each dollar under $60 at which GMH stock is trading. We are buying it because we feel it is a good investment.. As a public company, GM is required to file quarterly financial earnings based on the guidelines set forth by the Securities Exchange Committee (SEC). 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Minimum 15 minutes delayed. That business should be worth a premium, Demisch said. The sale is part . The day the deal was announced, Sc, 2023 Knight Sac Media. offering. General Motors Corporation - Class H stock represents Hughes Electronics Corporation. GM is required to file periodic reports electronically with the SEC through Edgar. Shares of GM climbed after the announcement Tuesday afternoon, rising 4 . Rich L.A. homeowners are snapping them up, Elliott: Kings use their heads over hearts in trading Jonathan Quick, Look up: The 32 most spectacular ceilings in Los Angeles, Federal Reserve officials sound warnings about higher rates, White House cyber plan would hold software companies liable for attacks, Silvergate warns of more losses, viability of its business after crypto crisis, Justice Dept. GM stock fell 7-15/16, or 9.1 percent, to 79 in afternoon trading, although that was up from an earlier intra-day low of 76.. The stock has a total market value of about $9.2 billion, but it is not a common stock. GM's sale of Hughes is one of the most complex in memory, investment bankers say, because GM sought to minimize taxes and because Hughes Aircraft is part of GM's Hughes Electronics Corp., which offers its own class of stock. NOT SOLD (BIDDING OVER) 0.00 USD + applicable fees & taxes. He persuaded a judge to waive his status as a minor and he took control of the company. These Terms and Conditions of use are governed by the laws of the State of New York, without giving effect to its conflict of laws provisions. Raytheon emerges as one of the world's two top military electronics firms; the other is Bethesda-based Lockheed Martin Corp. operations. We hope that is going to be the first step in being pro-active and more responsive to their needs, Arle said. The program was expanded in 2016, 2017, and more recently in August 2022, where the Board of Directors increased the available capacity under the program to $5.0 billion of common stock (for an aggregate total of $15.7 billion authorized). GM makes no representation that information in this Site is appropriate or available for use in other locations, and access to this Site from countries or territories where the Site's content is illegal is prohibited. Rather, GM uses a form of registered stock ownership called book entry or Direct Registration Profile System (DRS). The outcome was a painful blow to Northrop Grumman Corp., which struggled furiously to win GM's auction of Hughes but now faces the possibility of eventually falling into the ranks of subcontractors dependent on the three big defense players for work. business to GM's big parts-maker, Delphi Automotive Systems. Hughes ( GMH) shares, which track. General Motors Company (GM) Stock Historical Prices & Data - Yahoo Finance U.S. markets open in 2 hours 58 minutes S&P Futures +14.25(+0.36%) Dow Futures 32,767.00 +85.00(+0.26%) Nasdaq. performance made by these analysts are theirs alone and do not represent Northrop argued, for example, that its stock has grown twice as fast as Raytheon's over the past five years, and that it has excellent growth prospects. Picard has said these units contained "trapped value," meaning Wall Street didn't recognize their true worth while crammed into Raytheon. GMs shares lost 81 cents to close at $63.56, also on the NYSE. Raytheon, which purchased highly classified E-Systems Inc. for $2.3 billion in 1995, also will be one of the nation's top contractors in spy satellite, surveillance and intelligence work. Hughes Aircraft will host today and Friday the first large meeting for securities analysts it has ever held--part of an effort by GM to stimulate interest in the aerospace giant. * At 31, he set a transcontinental speed record from Burbank, Calif., to Newark, in a modified Northrop Gamma. Picard declined to comment on possible layoffs, but industry analysts said they are inevitable, especially in the missile sector. Return calculations do not include reinvested cash dividends. dividends per year is based on the dividend ex-date. The long-awaited deal and restructuring of Los Angeles-based Hughes also included the transfer of Delco Electronics, its automotive systems unit, back to GMs main car- and truck-parts unit, Delphi Automotive Systems. The economy, corruption and Goldman Sachs dominate the first international interview with Malaysia's new Prime Minister. Dennis Picard, Raytheon chairman and chief executive, said yesterday he will "work with rigor and vigor" to explore spinning off its engineering and construction division, which is one of the nation's biggest, and its consumer products unit, which makes Amana ovens and Speed Queen washers. Book-entry ownership is more convenient for investors because it eliminates the risk of lost or stolen certificates and the cost to replace the lost or stolen certificates, and the sale or transfer of the stock is simplified. The show examines all aspects of the legal profession, from intellectual property to criminal law, from bankruptcy to securities law, drawing on the deep research tools of BloombergLaw.com and BloombergBNA.com. GM later paid the disruptive Perot $750 million to leave the company, and last year it spun off the data consulting firm. Bloomberg Law speaks with prominent attorneys and legal scholars, analyzing major legal issues and cases in the news. Additionally, beneficial shareholders will receive account statements, Annual Reports and proxies directly from their broker or financial advisor. Distribution and use of this material are governed by gm hughes electronics corporation stock value. GM Hughes Electronics Corp., 1985 I/U Stock Certificate. The other defense colossus is Boeing Co., which last month announced a proposed $13 billion purchase of McDonnell Douglas Corp. The surviving parts of Hughes Electronics are today known as The DirecTV Group . Work phones make a comeback as offices ban WhatsApp, TikTok, Stocks jump as Wall Street cruises to best day since January, Car debt piles up as more Americans owe thousands more than vehicles are worth, Chicken-flavored ice cream? Did you read the article? General Motors Company does not by its reference above or distribution imply its GENERAL: GM reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions, in whole or in part, at any time. GMs registrar and stock transfer agent is Computershare Trust Company, N.A. GM has issued 17 million shares of GMH stock, about 40% of which are owned by employees. Identifying with the parent company is important to investors understanding . Besides selling its defense businesses, which had total 1996 revenue of Ashlee Vance explores innovations in new tech, software, engineering, and science in places outside of Silicon Valley. The historical dividend information provided is for informational purposes Changes will be effective when notice of such change is posted. performance. Hughes decided to exclude reporters from the meeting, Arle noted. Its not just you, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Newsom, IRS give Californians until October to file tax returns, Before and after photos from space show storms effect on California reservoirs, Column: A transgender patients lawsuit against Kaiser is a front for the conservative war on LGBTQ rights. IN NO EVENT SHALL GM OR ANY OF ITS SUBSIDIARIES BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION OR PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM) THAT ARE RELATED TO THE USE OF, OR THE INABILITY TO USE, THE CONTENT, MATERIALS, AND FUNCTIONS OF THIS SITE OR ANY LINKED WEB SITE, EVEN IF GM IS EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. If you access this Site from outside the United States, you do so on your own initiative and you are responsible for compliance with all applicable local laws. One analysis suggested that if the stocks value were to be based on 100% of GM Hughes profits, rather than the 25%, the market value would be four times the $9.2 billion. These, Zoltan, thanks for the link. endorsement of or concurrence with such information, conclusions or Howard Hughes donated Hughes Aircraft to the Howard Hughes Medical Institute in 1953 allegedly to avoid paying taxes on it's income. YOU ACKNOWLEDGE THAT ANY RELIANCE ON ANY SUCH OPINION, ADVICE, STATEMENT, MEMORANDUM, OR INFORMATION SHALL BE AT YOUR SOLE RISK. Although it would no longer control 68% of Hughes, GM said its remaining 35% stake would still be worth about $18 billion. GM MAY MAKE ANY OTHER CHANGES TO THIS SITE AND THE INFORMATION CONTAINED IN THIS SITE AT ANY TIME WITHOUT NOTICE. In 1995 Hughes Electronics was the largest supplier of commercial satellites and eventually became DirectTV. On December 31, 1985, General Motors merged Hughes Aircraft with its Delco Electronics unit to form Hughes Electronics Corporation, an independent subsidiary. GM officials acknowledge that they are taking a closer look the content of those news releases. BY USING THE SITE, OR BY DOWNLOADING MATERIALS FROM THIS SITE, YOU AGREE TO ABIDE AND BE BOUND BY THE TERMS AND CONDITIONS CONTAINED BELOW AND ELSEWHERE WITHIN THE SITE. The old General Motors Corporations common stock became Motors Liquidation Company common stock in July 2009, and traded as MTLQQ on the over the counter market until the confirmed bankruptcy plan cancelled the shares on March 31, 2011. Los Angeles, A $150,000 executive protection dog? https://www.wsj.com/articles/SB853446697700142000. Total There will be two providers of satellite. The Split Adjustment Factor is a How can I purchase shares of General Motors Company? The old Class H shares closed Wednesday at $66.94. IF YOU DO NOT AGREE TO ABIDE BY AND BE BOUND BY THESE TERMS AND CONDITIONS, DO NOT USE THIS SITE OR DOWNLOAD MATERIALS FROM THE SITE. GM does not issue stock certificates. As a result, GM has been repurchasing GMH shares. Current price is around $63/share of GMH. * At 41, he was seriously injured while testing an XF-11 photo-reconnaissance plane built for the Army Air Corps. Recapitalized GM Class H shares tied to a smaller Hughes Electronics--now essentially a telecommunications and satellite broadcasting company--began trading on the New York Stock Exchange. GM cautions readers not to place undue reliance on forward-looking statements. Both stocks saw early swings moderate in early afternoon trading. The closing price above is not necessarily indicative of future price Learn More . Founded in 1932 in a Los Angeles hangar, Hughes Aircraft started out as a team of accountants tracking the expenses of aviation pioneer Howard Hughes as he pursued his dangerous hobby of racing military planes. gm hughes electronics corporation stock value. Hughes has the defense business which is being sold. transaction as part of an effort to "unlock" the value of its nonautomotive Find the latest General Motors Company (GM) stock quote, history, news and other vital information to help you with your stock trading and investing. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved, 50% off + free delivery on any order with DoorDash promo code, Wayfair promo code: 10% off any single purchase, 60% off running shoes and apparel at Nike without a promo code, Score up to 50% off Nintendo Switch video games with GameStop coupon code. Hughes Electronics designs, manufactures, and markets advanced electronic systems, including providing . Here are some events leading up to his creation of Hughes Aircraft. In August 2022, the Board of Directors authorized a quarterly dividend on GMs common stock of $0.09 per share. Some Hughes insiders have said that recent Hughes Aircraft press releases have been screened by GM Chairman Roger B. Smith before being released to the news media. I do agree with Jack Shaw in t, Here's the same article on yahoo news: dailynews.yahoo.com. He joined the newspaper in 1981 and has covered many technical subjects, including aerospace, auto safety, nuclear weapons and high speed rail. General Motors Corp. announced yesterday it will sell its Hughes Aircraft Co. division to Raytheon Co. for $9.5 billion. by | Jun 6, 2022 | ephesus elementary school principal | kristen modafferi kristin smart | Jun 6, 2022 | ephesus elementary school principal | kristen modafferi kristin smart But the deal is most striking in the way it reshapes Raytheon, based in Lexington, Mass. it's happening. What is GMs ticker symbol and on which exchanges is GMs common stock traded? News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. * At 19, he inherited 75 percent of his father's Hughes Tool Co. Beneficial shareholders should address administrative matters to their broker or financial advisor. Is it possible to get a stock certificate for my share holdings? These statements are based on current expectations about possible future events and thus are inherently uncertain. In addition, Delco Electronics, another. I had not seen it. The combined companies have $21 billion in revenues and 127,000. THE INFORMATION CONTAINED HEREIN MAY CONTAIN INACCURACIES AND TYPOGRAPHICAL ERRORS. In addition, Delco Electronics, another division of Hughes Electronics, will be folded back into GM. Hughes established the Howard Hughes Medical Institute, donating all Hughes Aircraft stock to it to provide funds for medical research. One concern some investors have expressed with GMH stock is whether the very thin trading in GMH shares has distorted the value of the stock. GM officials said most of the sale's proceeds will go to Hughes Electronics, which remains a part of GM -- it builds commercial satellites, runs cellular telephone networks, and, using the name DirecTV, offers satellite television service using small rooftop dishes. Zoltan, I cannot access the article since I don't subscribe to the NYTimes. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. "But they don't want to anger the entire New England congressional delegation, particularly when the new defense secretary {retiring Sen. William Cohen of Maine} is from there." GM Hughes Electronics Corporation was formed in 1985 when GM won a secretive sealed bid auction to buy Hughes Aircraft from Howard Hughes Medical Institute. We are all part of that ball club. Does GM pay a dividend on its common stock? opinions, forecasts or predictions of General Motors Company or its management. General Motors Company began its operations when it acquired substantially all of the assets of Motors Liquidation Company (formerly, General Motors Corporation) in July 2009. Computershare maintains the record of GMs stock ownership by registered shareholders (those whose accounts are maintained in their name by Computershare). These publicly disclosed electronic documents can be found on the SEC Edgar website. GMs independent auditor is Ernst & Young LLP. we just have to clear the doj, the fcc will be no problem. Newsom, Musk dedicate former HP headquarters in Palo Alto to Tesla engineers, Adam Levine sues classic car dealer, alleging his 1971 Maserati isnt the real deal, Californians driving bigger cars could be charged more in vehicle registration fees. Hughes Electronics Corporation, a wholly owned subsidiary of General Motors Corporation, was formed on December 31, 1985, when General Motors acquired Hughes Aircraft Company from. Keep supporting great journalism by turning off your ad blocker. How can I be notified of GMs SEC filings and other important announcements or events? No. This website may include forward-looking statements. But it is potentially very exciting.. Did the old General Motors Corporations common stock, CUSIP 370442105, become the new GM common stock and, if not, does the stock currently have any value? The company intends to opportunistically purchase shares under this program at the discretion of management. Vintage Stock Certificate Product Code: SC850 Qty: Description GM Hughes Electronics Corporation was formed in 1985 when GM won a secretive sealed bid auction to buy Hughes Aircraft from Howard Hughes Medical Institute. Please give us your thoughts as to why you're considering it a buy. . GM ( GM) shares rose 2-1/8, or 2.8 percent, to 77-7/8 in mid-afternoon trade on the New York Stock Exchange, extending a 5 percent gain recorded Friday. PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS SITE. Now Raytheon will become the world's dominant missile builder -- which is certain to trouble antitrust agencies. GMs common stock began trading on the New York Stock Exchange (NYSE) on November 17, 2010. GMH shares closed Wednesday at $46.375 in New York Stock Exchange trading. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. GM had the Salomon Bros. and First Boston investment firms study the trading volume of GMH, Arle said. . Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Anyone have a hunch on how the valuation on these shares will change? only, and is not intended for trading purposes. highest level clan in coc 2020; gm hughes electronics corporation stock value. He, No. Hughes Electronics Corporation was formed in 1985 when Hughes Aircraft was sold by the Howard Hughes Medical Institute to General Motors for $5.2 billion. Only a week ago, it announced a $3 billion deal to buy Texas Instruments Inc.'s defense division, which enabled it to argue that it, more than Northrop Grumman, had the critical mass in defense work to make a Hughes deal work. about $6.3 billion, Hughes Electronics will transfer its Delco Electronics The sale is part of GM's GM does not endorse companies or products to which it links and reserves the right to note as such on its Web pages. Who is GMs registrar and stock transfer agent? Demisch, meanwhile, agrees that GMH shares should be worth more, in part because of the tremendous potential of Delco Electronics. Not one. When does GMs report quarterly earnings? Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. How do I know if I am a registered shareholder? It didn't l, The deal is given little chance. There has been a relatively low profile to both of the components, Hughes and Delco.. Text. information is provided by Mergent, a third party service, and Notified That surely would anger Massachusetts officials, who in 1995 gave in to Raytheon's demands for large tax benefits to persuade the company to stay put. General Motors said Wednesday that it will pay about $5.2 billion in cash and special GM stock to buy Hughes Aircraft, in a marriage of the nation's largest auto maker and its seventh. It is a so-called hybrid stock, owners of which have no equity in the company and are entitled only to dividends amounting to 25% of GM Hughes profits. Lockheed Martin Chairman Norman Augustine points out that while 1 percent of the cost of a World War I combat plane was devoted to electronics, in World War II it was 10 percent, in the Vietnam War it was 35 percent, and now it's 45 percent. The Company intends to opportunistically purchase shares under this program at the discretion of management. Investors who hold shares in their own name and not through a broker, a bank or other nominee as custodian on your behalf are considered registered shareholders. Opinion: Can L.A take back its streets so kids can bike safely? Wolfgang Demisch, aerospace analyst at the First Boston investment firm, observed: At best, it is marginally understood. Please note What did Disney actually lose from its Florida battle with DeSantis? The old General Motors Corporation's common stock became Motors Liquidation Company common stock in July 2009, and traded as MTLQQ on the over the counter market until the confirmed bankruptcy plan cancelled the shares on March 31, 2011. Raytheon General Motors Corporation - Class H stock represents Hughes Electronics Corporation. This copy is for your personal, non-commercial use only. The remaining 66% interest in Hughes will be held by three GM employee benefit trusts (managed by an independent trustee), which combined will hold an approximately 20% interest in Hughes, and by the general public, which will hold an approximately 46% interest in Hughes.
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