CEO vows better performance as GM exits bankruptcy

Yahoo / AP ^ | 07/10/2009 | TOM KRISHER and KEN THOMAS

[EagleUSA]

DETROIT – General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy. Once the world's largest and most powerful automaker, new GM is now leaner, cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.

But GM, whose 40 days under court supervision was far shorter than anyone predicted, faces the worst auto sales slump in a quarter-century.

At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one. It will generate cash and repay billions in government loans ahead of a 2015 deadline.

The new company will build more cars and trucks that consumers want and launch them faster than in the past, the CEO said. GM also announced a partnership with eBay Inc. to test auctioning vehicles online.

"We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done," he said.

[EagleUSA]

Obama's payback gift to the UAW gets special treatment. Who would have thought it ????

[colorado tanker]

building cars people are eager to buy

Memo to Government Motors: for me, that does not include tiny cars running on batteries.

[wolfcreek]

They can KMA. I’m not supporting something that basically helped SCREWED Americans out of mucho dinero.

[jessduntno]

“At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one.”

That will be a neat trick - with a fraction of the dealers - and their service sucked to begin with...

[freeangel]

And I promise to never eat chocolate again—NOT!

[Maceman]

building cars people are eager to buy

They're building Fords?

[darkwing104]

He said the U.S. government, which owns a majority stake in GM, has vowed that it would not get involved in day-to-day decisions.

[FlingWingFlyer]

Good luck with that Fritzy. You’re still going to have union workers working for you.

[colorado tanker]

Good one!

[Maceman]

“At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one.”

I'm sure the government backed-warranty will deliver a most excellent customer experience.

[Joe Boucher]

Saw a Subaru wagon on sale yesterday, 40 plus thousand for a crappy little Subaru?
No wonder they are having trouble selling cars.

[freekitty]

Lie, lie and lie. More bs

[SJSAMPLE]

The goobermint check wasn’t even cashed before Barney Fwank started interfering with plant/dc closings.

F GM!
I’ll never buy another UAW-made car again.
Even a Ford.

It’s time to kill the UAW!

[Happy Rain]

If I buy American,it will be Ford.

They didn’t,like GM and Chrysler,sell their free market souls to Obama in order to save their union bosses and their fat pay and benifit packages at taxpayer expense.

Both are now Unamerican Motors in my book.

[TChris]

I'm sure the government backed-warranty will deliver a most excellent customer experience.

Yep.

GM will just join Amtrak and the USPS as one more government organization that need not be concerned with profitability.

[rigelkentaurus]

blah, blah, blah - and what changed during the bankruptcy? Prediction - they will continue to receive taxpayer cash on a regular basis until they are shut down for good, or, they will be back into bankruptcy in the next couple of years.

They make and sell junk cars, have for decades, and I, for one, will never own one of their vehicles.

[Wooly]

building cars people are eager to buy

1. GM has been clueless about what cars people want to buy for over 30 years now.
2. Given the above GM will build what they are told to build.
3. What a waste of metal and plastic.

[Spktyr]

"building cars people are eager to buy" - like the new Gaymaro?

[Las Vegas Ron]

It will generate cash and repay billions in government loans ahead of a 2015 deadline.

How that line of BS is never challenged I'll never know.

[MortMan]

I will NOT buy any post-2009 GovMo car. Period.