General Motors Corp
Susan Docherty, vice president for Buick, Pontiac and GMC, told reporters at the New York Auto Show that the company had heard loud and clear U.S. President Barack Obama's message that it needs to restructure faster.
We're more than ready to do that, she said. We need to restructure this company either inside, without a bankruptcy, or with a bankruptcy.
The U.S. task force overseeing the restructuring of the auto industry said at the end of March that the plans GM submitted were not viable and demanded the resignation of Chief Executive Rick Wagoner.
The task force gave GM 60 days to come up with a new plan. During that time, the automaker will get funds to keep operating, but new loans will be on hold until it reworks its restructuring plan.
It isn't that we didn't have a viable plan, it's that they wanted the plan to be realized in a shorter time, Docherty said, adding that members of a government task force were working constructively with the company.
They don't want to run our company, she said. They want us to be viable.
(Reporting by Claudia Parsons; Editing by Lisa Von Ahn)