RESTART

GM Out of Bankruptcy

No more Chapter 11 after 40 days.

She's all yours, America. The new government-owned General Motors is expected to announce a restructuring Friday that takes it out of Chapter 11 bankruptcy protection and puts it back on the path to profitability. CEO Fritz Henderson is set to announce moves, including cutting another 4,000 white-collar jobs, aimed at making the company leaner and more efficient. But despite successfully shuffling off debt in bankruptcy court, GM faces the same underlying problem—a lack of a product people want to buy. "It is the smaller, leaner, tougher, better-cost-focused GM," one automotive analyst told The Washington Post. "But they still have to deal with the problems that they faced longer-term," he added. One early success: A new Chevrolet Camaro is selling well despite the recession.