GM CEO Frtiz Henderson to hold press conference tomorrow, will discuss restructuring efforts

General Motors President and CEO Fritz Henderson will host a press conference call on Friday, April 17 (tomorrow), to update the media on GM”s restructuring activities. This will be the first status update given to the media since the Obama administration gave the company until June 1 to come up with a new restructuring plan.

Henderson is expected to provide the media with updates on GM’s efforts to cut costs and other restructuring efforts it is taking to avoid a Chapter 11 bankruptcy.

GM is hoping to get bondholders to restructure $28 billion in unsecured debt and $20 billion in obligations to the UAW.