Toni Simonetti
Toni Simonetti
absolutely bankruptcy preparing rumor saying
What we're saying is the rumor is absolutely false. We are not preparing a bankruptcy filing.
actively engaged hughes interested multiple
We are still actively engaged in discussions about Hughes with multiple interested parties. Those discussions are progressing.
position report
Discussions are ongoing, but we are not in a position to report any new developments.
announced board company consider couple directors engaged global interests news obligation respond sky weeks
A couple of weeks ago we announced we were proceeding with negotiations with News Corp. That is our priority, ... We are engaged in these negotiations with News Corp. and Sky Global Network. The company and our board of directors have an obligation to respond to the interests of all of our shareholders. As such, we would always consider any alternative.
board situation
The board will be apprised of the GMAC situation and the Delphi situation.
equity expressed intention interest invest maintain multiple parties
There was some interest expressed on the part of multiple parties to invest in our commercial-mortgage business. We're in discussions with those parties, ... We are amenable to equity partners, but GMAC's intention is to maintain a significant equity interest in this business.
review
That review is going on very intensively right now.
believe credit environment ratings running strengthen therefore
We believe that such a transaction would strengthen the credit ratings for GMAC and therefore make a much better environment for running a financial-services organization.
actively engaged possible pursuing sale
We're still actively engaged in pursuing the possible sale of a controlling interest.
continue looking number strategic
We've always said we have a number of strategic alternatives that we're looking at...We continue to do that.
adequate believes business capital cash general planning prudent run strategies
General Motors believes it has adequate cash and liquidity to run the business and we have prudent capital planning strategies in place.
month
We said it would be about a month and it has been a month.
extent prepare preparing
To the extent we can prepare for that (a strike), we are preparing a contingency plan.
complete expect
We still expect to complete that repurchase by the end of the year,