AFSCME 3357-HOF'S BLOG

Henderson's View of the World 4/17/2009
Nothing to see here, move along

GM CEO Fritz Henderson had a conference call with analysts and reporters today to go over GM's restructuring plans. Judging from this article just posted on usatoday.com, the conference was anticlimactic. He said that bankruptcy was likely but "not preferred". Refuting yesterday's lead stories, Henderson said GM remained committed to four "key" brands, Chevrolet, Cadillac, Pontiac, and GMC. (Pontiac?) There's nothing in the USATODAY writeup about Buick, but honestly, Buick doesn't cost GM much to keep around. There are only three models, and it shares dealerships with Pontiac and GMC. It's worth keeping around just because the Chinese like it.

What about the other brands? Henderson said that they have received three bids for the Hummer brand. No word on if any of these bidders actually had a positive eBay history. Without specifics he said he has received indications of interest in Saab & Opel. He said that the retail parts brand, AC/Delco is not up for sale.