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GM CEO says bankruptcy "more probable"
General Motors CEO Fritz Henderson talks about changes at GM at GM headquarters in Detroit, Michigan April 27, 2009.
Credit: Reuters/Rebecca Cook
DETROIT |
DETROIT (Reuters) - General Motors Corp (GM.N) CEO Fritz Henderson said on Monday it is "more probable" GM will need to file for bankruptcy in order to restructure. Highlights:
* CEO Henderson says expects a game plan for salaried job cuts by the end of
the month
* CEO Henderson says there's still a chance GM could avoid bankruptcy
* CEO says would consider proposals for individual plants but have not received
such proposals
* CEO says some overseas units might have to file for bankruptcy if n American
operations file
* CEO Henderson says U.S. treasury set maximum of 10 percent equity for
bondholders in restructured automaker
* CEO Henderson says U.S. officials did not detail reasoning behind bondholder
proposal
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