General Motors Press Conference 6:30pm EST Webcast

Posted on 17. Feb, 2009 by in 2000-2009

The General Motors press conference is as mentioned earlier, taking place at 6:30pm following the extended submittal of the GM Business Plan to the U.S. Treasury at 6:00pm.

I invite you to call in and hear for yourself if you want to in addition to watching the press conference live here on Saab History.

Update: Here’s what I have recapped so far in this press conference from what GM executives have said and what journalists have asked and the responses they have had regarding Saab Automobile AB and their future.

6:33pm – Thanked Sweden for helping with the plan

6:35pm – GM has conducted a strategic review of the global Saab business and has offered it for sale. Given the urgency of stemming sizeable cash demands associated with Saab operations, GM is requesting Swedish government support prior to any sale. The company has developed a specific proposal that would have the effect of capping GM’s financial support, with Saab’s operations effectively becoming an independent business entity Jan. 1, 2010. While GM hopes to reach agreement with the Swedish government, the Saab Automobile AB subsidiary could file for reorganization as early as this month.

6:36pm GM’s Rick Wagoner indicates that the PR version of the “GM 2009 – 2014 Restructuring Plan” which you can download directly at this link here.

7:00pm – Swedish Journalist in person asks question: How have you been treated in your relations with the Swedish Government regarding the Saab situation?

Fritz Henderson: “We haven’t found a solution yet, has the highest regard”. Fritz Henderson has no difficulties with how they have been treated by the Swedish Government.

7:06pm – Auto Magazine calls in: Could Saab buy GM technology if they were to be spun off?

Rick Wagoneer: Yes, Saab could buy the GM technology if that happened, yes.

7:12pm – Mark Phelan, Detroit Free Press: Talks that if Saab not sold, there will be a 3rd option if the Swedish Government does not take it?

Rick Wagoneer: “Does not see any continuation with any technical support or continued ownership”

2009-02-17

GM CEO Wagoner to Discuss Submission of Viability Plan to the United States Treasury

Detroit, Mich. (NYSE: GM) General Motors Chairman and CEO Rick Wagoner will hold a news conference today, Tuesday, February 17, to discuss the viability plan being submitted to the U.S. Treasury and to provide an update on the company’s restructuring.

The press conference will begin at approximately 6:30 p.m. EST, pending receipt of the plan by the U.S. Treasury.It will take place in the Jefferson Room of the Renaissance Conference Center on the second level of GM’s global headquarters in Detroit.

For those joining us at the Renaissance Center: an area with speaker phone will be available in the Waterfront Lounge for those wishing to join the Chrysler conference call at 5pm.

The satellite feed for the press conference is:

AMC15
Transponder K2
Downlink: 11740.00 Horizontal
Audio: 6.2/6.8
Ku Band, Analog

A listen and Q&A line will be available for media:

U.S. (800) 230-1092
International: (612) 234-9960

No pass code is required; just ask for the General Motors press conference.

To view the press conference via webcast use the following link:

http://gmtv.feedroom.com/?fr_story=0f989aeb092a6410b7160fe2169cabde5c97e097

A replay of the press conference video will be available at the above URL approximately three hours after the broadcast concludes.

A conference call for financial analysts and the media will be held on Wednesday, Feb. 18 at 11:00 a.m. EST. The call will be hosted by GM President and Chief Operating Officer Fritz Henderson and Executive Vice President and Chief Financial Officer Ray Young. They will provide brief remarks, followed by a question-and-answer session (only analyst questions will be addressed). The call is expected to last approximately 60 minutes.

To join the analyst call dial (800) 830-2812 or (416) 641-6283 for international access, and ask to be connected to the General Motors conference call. The call will also be webcast live on GM’s Investor website at http://investor.gm.com under the Calendar/Events in the Recent Events section. The webcast and charts will available via a hot link at GM Media OnLine (http://media.gm.com).

Archive: A taped replay of the analyst call will be made available from 2:00 p.m. EST, February 18, 2009, until 2:00 p.m. February 20, 2009. Please dial 1-800-633-8284 (or 402-977-9140 for international access) and enter reservation number 21415476 to access the taped replay.

CONTACT(S):
Reneé Rashid-Merem
GM Financial Communications
313.665.3128 (office)
313-701-8560 (mobile)
renee.rashid-merem@gm.com

Technical/broadcast questions:
Len Marsico
GM Global Communications Operations
313.665.3177 (office)
313.610.2091 (cell)
len.marsico@gm.com

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