General Motor Bussiness Plan

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General Motors Corporation

Restructuring Plan for Long-Term Viability

Submitted to Senate Banking Committee & House of Representatives Financial Services Committee

December 2, 2008

TABLE OF CONTENTS Page 1. INTRODUCTION ...........................................................................................................4 2. BACKGROUND .............................................................................................................6 3. THE PROBLEM ..............................................................................................................7 4. CONSEQUENCES OF FAILURE ..................................................................................8 5. TEMPORARY FEDERAL LOAN ..................................................................................9 5.1 Capital Structure Considerations ...........................................................................11 5.2 Stakeholder Considerations ...................................................................................13 5.3 Loan and Funding Protocol ....................................................................................14 5.4 Taxpayer Protections .............................................................................................14 5.5 Shareholder and Management Sacrifices ...............................................................15 5.6 Corporate Aircraft ..................................................................................................15 5.7 GMAC Considerations...........................................................................................15 5.8 Pension and Healthcare Considerations .................................................................16 6. PRINCIPAL RESTRUCTURING PLAN ELEMENTS ...............................................17 6.1 Marketing and Retail Operations ...........................................................................18 6.2 Manufacturing Cost Reduction ..............................................................................19 6.3 Structural Cost Reduction ......................................................................................21 6.4 Fuel Efficiency Improvements ...............................................................................21 6.5 Product Portfolio Changes .....................................................................................24 6.6 Significant Capital and Cost Reductions ...............................................................25 7. DEMAND STIMULATION ..........................................................................................26 8. INDUSTRY COLLABORATION ................................................................................27 9. SUMMARY ...................................................................................................................28 APPENDICES A. SUMMARY OF GM RESTRUCTURING ACTIONS AND RESULTS ...........29 A.1 Product Portfolio............................................................................................29 A.2 Fuel Efficiency ..............................................................................................29 A.3 Marketing/Retail Operations .........................................................................30 A.4 Manufacturing/Productivity...........................................................................30 A.5 Structural Costs..............................................................................................30 A.6 Capital and Cost Reductions .........................................................................31 A.7 GM Executive Compensation ........................................................................31 B. ECONOMIC COLLAPSE ...................................................................................32 C. SUPPORTING FINANCIAL INFORMATION ..................................................33 C.1 GDP and Industry Sales...
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