GM Execs Admit Errors, See Turnaround In 3 Yearsmedia.npr.org
Made popular 2025 days ago in Politics
npr.org — General Motors chief executive Fritz Henderson said Tuesday that the sale of the Hummer brand will save jobs, as another senior executive said the automaker can return to profitability within "two to three years."

Henderson and Chief Financial Officer Ray Young spoke to NPR a day after GM was forced to file for bankruptcy amid a government plan to infuse an additional $30 million to help recapitalize the struggling company.

GM announced Tuesday that it had reached a tentative agreement to sell its gas-guzzling Hummer brand but did not name the proposed buyer or the price.

"We are pleased to be able to find this solution," Henderson said. "We think we will be able to bring this to closure and protect the Hummer brand."

Posted by JBeal
79 Votes
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Beginning of the end or a new beginning for GM?
New Beginning
23%
Beginning of the end
77%
This is not a scientific survey, click here to learn more. Results may not total 100% due to rounding and voting descrepencies.
User Comments
Proud2BAmerican
Posted 2025 days ago
0 up votes, 0 down votes
Once again, as long as the government is the owner, then it will never be the same!
Posted 2025 days ago
0 up votes, 0 down votes
You're right there, P2BA. Twice in our nation's history the railroads were failing under private ownership. The government stepped in, took over, got them back in the black, and handed them back to private hands. There is an article on it here:
http://www.washingtonmonthly.com/features/2009/0903.longman.html
Posted 2025 days ago
0 up votes, 0 down votes
GM will become the "U.S. postal service agency" seperate entity but owned and operated by the government.
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