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The White House’s economic adviser Austan Goolsbee said yesterday that General Motors’ new chief executive officer has embraced a change of direction and is working to make the company viable. He said that under Fritz Henderson, who replaced ousted CEO Rick Wagoner, is heavily engaged in restructuring.

“It’s clear he’s embracing a change of direction and they’re trying to work on a viable plan,” Goolsbee told Reuters.

As for Chrysler, Goolsbee said that the Auburn Hills automaker and Fiat “have been meeting with the task force and … everybody’s heavily engaged in trying to come up with viable restructuring plans.”

President Barack Obama’s administration have given General Motors 60 days to present a viable plant and have provided Chrysler 30 days to move forward with a Fiat alliance.

- By: Omar Rana

Source: Reuters

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