The projected split is "a great idea'' and "a very good technique," Kresa told Autonews. "It has its problems, and all of our people are looking at it very hard," he said. The chairman believes this concept could be "wonderful idea for allowing a new General Motors to emerge.''
On the good side, GM could place Chevrolet and Cadillac together, to form the core of a smaller, more efficient company. GM's evil twin will be comprised by the manufacturers marginal brands.
"There are a lot of constituents right now that have some dibs on the assets," Kresa said. "The bankruptcy has to deal with each of those and make sure that whatever comes out is reasonable. This is not a done deal. We want to do something that would be done quickly. The question is, is that the quickest way to do it? And we're looking at that."
The talk on Chapter 11 protection is on the table ever since Wagoner was pushed aside and Fritz Henderson stepped in. Even so, a closer look at what GM plans to do reveals that the current course of action is...none.
Public relations reasurements the likes of Henderson's "we will get the job done" don't mean something is really being done. Some might say that Chapter 11 is the final goal for GM, as the prospect of such a future does not scare the manufacturer's officials.
"We will do it out of court, or we will do it in court," Henderson told the Detroit News earlier this week.
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