General Motors is on track to hit the financial restructuring targets
By Andrew C., 27 Aug, 2010. 0 Comments
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General Motors Co. has achieved much during the first 90 days since it emerged from bankruptcy.
CEO Fritz Henderson, who presented the updates, disclosed that GM is on track to hit the financial restructuring targets imposed by the US government. Henderson admits however that GM still faces risks as it attempts to pull back consumers in an economy that has yet to recover, says Autonews.
In addition, GM exposed plans to enter deals to sell its Saab and Hummer segments before 2009 is over. It is currently preparing for an initial public offering of its stock next year.
Henderson said that the company is not veering from its goals to reduce costs and debt by a margin that's high enough to make it competitive.
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