Bankruptcy Still Likely for GM, CEO Says
In a conference call with reporters Friday, Henderson said GM is working on two parallel plans: one that involves bankruptcy and one that doesn't.
GM has already received $13.4 billion in aid, and it must meet strict requirements to cut labor costs and debt by a June 1 deadline. Henderson says the company will be prepared to file for bankruptcy if it is unable to reach those goals out of court.
Henderson also says the company will not sell its ACDelco parts division.