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GM CEO softens company's opposition to bankruptcy

(Agencies)
Updated: 2009-04-08 10:36

"Our test is, what's going to work," he said. "What's going to help bring about the kind of restructuring, allow them to emerge stronger and be part of this American economy. We want them to be part of our future."

Henderson also said he does not believe the administration should encourage Americans to buy US-made cars.

"I think the consumer should buy exactly what kind of car they think meets their needs and that excites them," he said on "Meet the Press." "And it's our job to make sure we provide that and as I look at it, not necessarily have it mandated or otherwise encouraged."

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Also, Henderson said that unlike Wagoner, he will not work for $1 a year. He is paid $1.3 million, a salary which was cut 30 percent as part of what he called shared sacrifices at the auto maker.

The Detroit automaker said in February it was aiming to shrink US employment to 72,000 by 2012, down from 92,000 hourly and salaried employees at the end of last year. Henderson said the auto task force concluded the company needed to cut more, and faster.

That conclusion is "certainly going to require us to be leaner than we had even foreseen in February," he said. The numbers haven't been finalized, but they would amount to a "significant additional change for the company," he said.

Henderson is aiming to minimize the amount of time GM relies on taxpayer money.

"One of the saddest days of my career was when we needed to borrow money from the US taxpayer," he said. "And I'm quite convinced that one of the happiest days of my career is when we repay it."

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