GM CEO Says Reinvented Company Will Be Lean, Quick

Satellite trucks are parked in front of the GM building in advance of a newsconference with...

Satellite trucks are parked in front of the GM building in advance of a newsconference with President and CEO Fritz Henderson Monday, June 1, 2009 in New York. General Motors Corp., the century-old automaker battered by the economic downturn, mounting debt and management problems, will file for bankruptcy Monday. (AP Photo/Mark Lennihan)

(AP)

General Motors CEO Fritz Henderson says the new GM will be a leaner and quicker company that's more focused on its customers and its products.

Henderson spoke Monday at a news conference in New York after the fallen icon of American industry filed for bankruptcy protection. President Barack Obama says it is part of a "viable achievable plan" that will give the company "a chance to rise again."

Henderson says the new GM will be built from the strongest parts of its business, including its best brands and best products.

The company plans to focus on four core brands — Chevrolet, Buick, Cadillac and GMC — and get rid of four others — Pontiac, Saturn, Hummer and Saab.

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