Finance Matters

From The BBC:

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Fritz Henderson on GM’s emergence from bankruptcy
General Motors (GM) says it has emerged from bankruptcy protection after creating a “new GM” made up of the carmaker’s best assets.GM chief executive Fritz Henderson said it was the beginning of a “new era”. The leaner GM will own four key brands including Cadillac and will be 61% owned by the US government. Mr Henderson said negotiations were continuing “around the clock” to conclude a deal to sell GM Europe, which includes Opel and Vauxhall.
Mr Henderson said that GM would take the “intensity, decisiveness and speed” of the bankruptcy process and apply it to the new company. “We will be profitable, we will repay our loans as soon as possible and our cars and trucks will be among the best in the world,” he said. A smaller GM is being created with a reduced workforce, smaller dealer network and less debt. ‘Cautiously optimistic’Industry analysts interpreted the short timef…

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