MARCH 30, 2009, 12:04 A.M. ET
Task Force Says GM Can Bounce Back With Changes
In its memo on the company, the task force also said that the majority of GM’s directors would be replaced and that Kent Kresa, a long-time director, would serve as interim chairman.
Despite the pessimistic view on GM’s restructuring plan, members of the task force said they are “confident that with a more fundamental restructuring, GM will emerge from this process as a stronger more competitive business.”
To help the GM, the Administration will provide it with working capital for 60 days to develop a more aggressive restructuring plan and a credible strategy to implement such a plan.”
http://online.wsj.com/article/SB123838449463268709.html?mod=googlenews_wsj
Not with the Union still intact they won’t.