Posted on Fri, Jul. 10, 2009
General Motors was poised to announce its exit from bankruptcy this morning, after just 40 days in court. Chief executive Fritz Henderson has scheduled a Detroit news conference to explain executive cuts, management changes, and the "new GM's" plan to make money by emphasizing quality and fuel economy.
The iconic car maker will be government-owned, leaner, greener, and cleansed of debts and burdensome contracts that nearly dragged it into liquidation.
But the new company of 88,000 workers faces tough international competition and the worst market in more than 25 years.
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