A new GM on the horizon in 90 days?
http://www.theweeklydriver.com/articles/1414/1/A-new-GM-on-the-horizon-in-90-days/Page1.html
By James Raia
Published on 06/1/2009
Press Release
Courtesy of General Motors
General Motors Corp. (NYSE: GM) has announced that it has reached agreements with the U.S. Treasury and the governments of Canada and Ontario to accelerate its reinvention and create a leaner, stronger "New GM." Pending approvals, the New GM is expected to launch in 60 to 90 days as a separate and independent company from the current GM ("GM"), with two distinct advantages:
It will be built from only GM's best brands and operations, and it will be supported by a stronger balance sheet due to a significantly lower debt burden and operating cost structure than before.
The New GM will incorporate the terms of GM's recent agreements with the United Auto Workers (UAW) and Canadian Auto Workers (CAW) unions and will be led by GM's current management team.
Courtesy of General Motors
General Motors Corp. (NYSE: GM) has announced that it has reached agreements with the U.S. Treasury and the governments of Canada and Ontario to accelerate its reinvention and create a leaner, stronger "New GM." Pending approvals, the New GM is expected to launch in 60 to 90 days as a separate and independent company from the current GM ("GM"), with two distinct advantages:It will be built from only GM's best brands and operations, and it will be supported by a stronger balance sheet due to a significantly lower debt burden and operating cost structure than before.
The New GM will incorporate the terms of GM's recent agreements with the United Auto Workers (UAW) and Canadian Auto Workers (CAW) unions and will be led by GM's current management team.