General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.

General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its divid

DETROIT >> Clearly frustrated with its languishing share price, General Motors today announced a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike.