GM Questions & Answers

by Michaella, July 23, 2009 at 12:02pm

The main goal of the GM Virtual Stockholder's meeting is to recomend GM to provide transportation in a socially and environmentally responsible manner.   I thought it would be a good idea to look into popular questions New York Times asked GM regarding their fresh new start.

Q: Who owns the new G.M.?

A: The majority owners of the new G.M. are the American and Canadian governments, which hold 72.5 percent. A union health care trust called a Voluntary Employee Beneficiary Association, or VEBA, holds 17.5 percent, and 10 percent is held by the old G.M.

Q: Who will run the new G.M.?

A: Fritz Henderson remains as chief executive. Its new chairman is Edward Whitacre Jr.New members of the G.M. board will be named soon.

Q: What happens to old G.M.?

A: It remains in bankruptcy. Assets, like brands, factories and other operations will be liquidated over the next few years. Albert A. Koch, an expert in restructuring, is overseeing that process. Old G.M. is now known as the Motors Liquidation Company.

Read the full article for further questions regarding GM's new start,