GM Treasurer Says GM On Track To Pay Back Tax Payers.
1UAW submitted on 7/27/2009 Official Bell & Ross Timestamp: 6:43:56 PM
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In a field hearing held in Detroit, Mich.
, General Motors Treasurer Walter Borst testified Monday as to the state of New GM as it emerges from bankruptcy before the Congressional Oversight Panel on Federal Government Assistance to the Auto Industry.
In prepared testimony, Borst said GM plans to focus on its “four core” US brands, Chevrolet, Cadillac, Buick and GMC, and will reduce the number of nameplates from 48 to 34.
The company will also attempt to “effectively close the competitive gap in active worker labor costs compared with transplant auto manufacturers.” Borst said.
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