(Source: NBC’s Meet the Press)
MR. DAVID GREGORY: … (Intro Deleted) Can General Motors be saved? With us, the new CEO, Fritz Henderson. … But first, we’re joined live from Detroit this morning by the new CEO of General Motors, Fritz Henderson.
Welcome to MEET THE PRESS.
MR. FRITZ HENDERSON: Good morning, David.
MR. GREGORY: The administration’s auto task force tasked General Motors with the idea of coming up with a viability plan. The company did that and the White House rejected it flatly. There were some stinging rebukes embedded in that report. Here’s just a sampling: “General Motors’ plan is not viable at is, at is–as it is currently structured. The assumptions in GM’s business plan are too optimistic. Progress has been far too slow.” Pretty harsh reaction from the Obama White House. How did the company get it wrong?
From NYT live blogging of Fritz Henderson, GM’s new CEO, press conference this a.m.:
In his strongest language of the news conference, Mr. Henderson says bankruptcy is now “more probable” for G.M. than in the past. Mr. Henderson said circumstances may drive G.M. into bankruptcy “as the strategy that we need to deploy.” He said, “If I didn’t want to be part of a bankruptcy, I would have said, no, I don’t want to be part of it.” He said he was asked to do the job and make G.M. successful, whatever it takes.