General Motors Emerges from Bankruptcy

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General Motors announced on Friday that the company is coming out of bankruptcy protection.

But the question remains: Can the automaker survive in today's brutally competitive market?

GM is exiting Chapter 11 just 40 days after entering the process, even quicker than cross-town rival Chrysler. But in order to do so, GM has announced 4,000 job cuts.

Experts say the company must work on changing its image to one of cutting-edge quality and efficiency.

The bottom line is this could be good news for car buyers.

"Really the story here is for consumers,"'s Jessica Caldwell said. "If you're thinking of buying a new car, now is really a good time to take a look."

Consumer spending is down. Almost one in 10 people are without a job. That's why some investors, like Berkshire Hathaway CEO Warren Buffet, say we need more stimulus.

"Our first stimulus bill, it seems to me, was sort of like taking half a tablet of viagra and having also a bunch of candy mixed in -- you know, as if everybody was putting in enough for their own constituencies," he said.

Republicans on Capitol Hill argue the first stimulus bill was flawed, while Democrats explained it just needs time to work.

"We would have created twice as many jobs at half the cost," said the GOP minority leader Rep. John Boehner, R-Ohio.

"This third quarter is a big quarter for the stimulus, and I think that people will begin to see more of the results," said House Speaker Nancy Pelosi, D-Calif.

GM is also considering making a change to its familiar square logo, changing the color from blue to green. That move could reflect the automaker's new environmental focus and ramp it up for a third quarter that many retailers are worried will not improve.

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CBN News
Heather Sells

Heather Sells

CBN News Reporter

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