New GM emerges from bankruptcy
by Bradley Wint on July 10th, 2009 at 9:25 am
According to the Detroit Free Press, New GM has officially emerged from bankruptcy and will be knows as the New General Motors Co. This comes after the documents for a lot of the good assets to be sold to New GM were finally approved at 6:30am this morning. Fritz Henderson will be the CEO and Ed Whitacre will be taking the roll of chairman. The official announcement ceremony started at 9am which you can watch right now by clicking here.
Now that the company has been pulled from bankruptcy, their new goal now is to convince potential customers that the new name is worthy to invest into. They are trying to come up with the right marketing strategy and also working on products that deliver value for money. They are also trying to define their niche once again, and expect the next 3 years to be difficult but promising, in efforts to restore their name to what it once was.
New GM will be downsized quite alot, with 4 fewer brands, a much smaller team of staff and less European presence in order to focus on their core and rebuild it and hopefully turn out favourable figures.
Via: Detroit Free Press | Image: Internet Auto Guide
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