It's a list of housekeeping items. I hate to disappoint the people who want to panic over all this.
With their sharp decline in market share, they have frankly got too much capacity, too many plants, too many people to be profitable in North America.
This is really more a matter of Mark Fields wanting to get his own people in place.
The fight between Delphi and the union is scaring people about a strike shutting down GM. There's been a lot of piling on GM in the media, too.
The job cuts will ultimately generate considerable cost savings if GM is smart enough to fire the right people and keep the right ones.
While the (health-care) deal is a positive, they have several other challenges. They are losing too much market share. They have too many plants, too many people and too many models.
I hate to disappoint the people who want to panic, but this is strictly housekeeping. I would think with all these things cleared up, it may clear out some small hurdles that otherwise might have gotten in the way of a sale.
People think highly of Henderson, but I'm sorry that Devine is leaving. He tells it like it is, and he's a known quantity.
His departure is not going to make or break the company, but the cumulative loss of the top people from Chrysler is a significant drag, although it's hard to quantify,
These are things they've got to do, but there's a lot more. They've got too many models, too many people and too many plants for the amount of business they're doing now.