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While GM still has 60 days to submit a more aggressive restructuring plan, leaders in Washington are beginning to call bankruptcy an inevitability.London is playing host to a G20 summit this week, and multiple storylines are already emerging.
His aggressive restructuring plan, announced in late 2009, has since stemmed the bleeding to the point that the airline is now sitting on net cash pile of about 350 million euros.
This will allow us to accelerate the completion of our aggressive restructuring plan for long-term, sustainable success.
In the meantime, the federal government will provide working capital to GM for 60 days so that it can work with the task force to develop a more aggressive restructuring plan that demands even greater sacrifices from bondholders, unions and other stakeholders.
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DETROIT The Obama administration is playing hardball with General Motors and Chrysler, threatening to push them into bankruptcy if they don't come up with more aggressive restructuring plans in a matter of weeks.
Detroit still is pursuing an aggressive timeline to present a restructuring plan in bankruptcy court by the end of the year, months before the court-set deadline of March 1.
"You have got an aggressive restructuring that, if anything, is ahead of plan," Mr. Light said.
On Wednesday, the Air Transportation Stabilization Board rejected United's restructuring plan for lack of sufficiently aggressive cost cuts.
Next month, Ford will announce details of its restructuring plan, which The Detroit News said will be more aggressive than analysts had expected.
In the plan, Ford said the transformation of its North American automotive business will continue to accelerate through aggressive restructuring actions and the introduction of more high-quality, safe and fuel-efficient vehicles including a broader range of hybrid-electric vehicles and the introduction of advanced plug-in hybrids and fully electric vehicles.
He has published a comprehensive restructuring plan.
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