These days AMRs balance sheet looks as good as General Motors, and its in a stock buy-back mood, too.

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Former Comptroller General says the government must face up to its troubling balance sheet.

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At the time--and through late October, until EchoStar won the bidding--News Corp. had been intent on acquiring DirecTV from General Motors, at a price that would have strained the News Corp. balance sheet.

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Spitzer's case is focusing on a few arcane areas of accounting--including an allegedly bogus deal by AIG with General Re, a unit of Berkshire Hathaway, to bulk up AIG's balance sheet.

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