BREAKING NEWS: Pontiac to be Phased Out After 2010...Hummer, Saab, Saturn No Future at GM After 2009...Will Go Bankrupt to Re-Organize if Necessary

DETROIT - April 27, 2009: In an early morning live press conference today, Fritz Henderson, General Motors' President and CEO, announced that the company's North American plans are to move ahead with only four core brands: Cadillac, Chevrolet, GMC and Buick. Henderson said that after long careful analysis that GM sees no hope for the Pontiac brand.

In addition, Mr. Henderson talked about the possibility of GM having to go into re-organization, if necessary, in a very real matter-of-fact way.

The complete live press conference was presented on TheAutoChannel.com and an archived version will be available shortly after the conclusion of the live event.