BUSINESS BRIEFS
GM's new CEO discusses options
Advertiser News Services
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DETROIT — General Motors Corp. is softening its opposition to bankruptcy reorganization a little more.
"If it's required, that's what we'll do," new Chief Executive Fritz Henderson said in an interview broadcast yesterday, but added that GM still would prefer to avoid bankruptcy protection while restructuring.
President Obama and his auto industry task force have indicated that bankruptcy protection "may very well be the best solution for the company to achieve these goals," Henderson told CNN's "State of the Union."
That is why, he said, "when you look at the situation, we said, 'OK, we'll spend the time to try to complete the work, more aggressive work, outside of the court process, but if it's required, that's what we'll do.' "
Last week, Obama told the company it had 60 days to make more cuts and get more concessions from bondholders and unions, or it won't get any more government help.
AT&T CONTRACT TALKS CONTINUING
AT&T and unions for its landline workers were working past a strike deadline yesterday to try to reach agreement on a new contract.Core wireline contracts across the country expired Saturday night, but union-represented employees covered by those contracts continued to work under the old agreements, the two parties said.
Issues like employment security and healthcare have yet to be resolved, but union members will report to work, "although that can change at any time," the Communications Workers of America said on its Web site yesterday.
