General Motors CEO Fritz Henderson says the new GM will be a leaner and quicker company that's more focused on its customers and its products.
Henderson spoke Monday at a news conference in New York after the fallen icon of American industry filed for bankruptcy protection. President Barack Obama says it is part of a "viable achievable plan" that will give the company "a chance to rise again."
Henderson says the new GM will be built from the strongest parts of its business, including its best brands and best products.
The company plans to focus on four core brands -- Chevrolet, Buick, Cadillac and GMC -- and get rid of four others -- Pontiac, Saturn, Hummer and Saab.