GM Releases New Viability Plan, Launches Bond Exchange; Phasing Out Pontiac
Green Car Congress
APRIL 27, 2009
As part of the new plan, GM will accelerate the wind-down or sale of HUMMER, Saturn and Saab to the end of 2009, and phase out Pontiac by the end of 2010. In total, the US Treasury debt conversion, VEBA modification and bond exchange could result in at least $44 billion in debt reduction. Fritz Henderson.
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