Now the situation we found at General Motors was very different from what we found at Chrysler —— largely because GM is a different kind of company. It is much larger and much more complex, with operations all over the globe. In this context, GM's management team ——including its new CEO, Fritz Henderson, its interim chairman, Kent Kresa, and all of their colleagues——have worked ——has worked tirelessly to produce a plan that meets the strict standards I laid out at the beginning: to streamline GM's brands, clean up GM's balance sheet, and make it possible for GM to compete and succeed。

　　Working with my Auto Task Force, GM and its stakeholders have produced a viable, achievable plan that will give this iconic American company a chance to rise again. It's a plan tailored to the realities of today's auto market; a plan that positions GM to move toward profitability, even if it takes longer than expected for our economy to fully recover; and it's a plan that builds on GM's recent progress in making better cars. As this plan takes effect, GM will start building a larger share of its cars here at home, including fuel-efficient cars. In fact, if all goes according to plan, the share of GM cars sold in the United States that are made here will actually grow for the first time in three decades。

　　Now, any time a business as large as General Motors goes through a restructuring, it is extremely difficult to find common ground among all of the company's stakeholders. But while the deal that has been worked out is tough, it is also fair. It will require the United Auto Workers to make further cuts in compensation and retiree health care benefits ——painful sacrifices on top of all that they have already done. It will require GM shareholders to give up the remaining value of their shares —— just as they would have had to do in any private restructuring of this kind. And it will also provide unsecured bondholders with an equitable outcome —— an outcome that will let them recover more than the current value of their claims, and substantially more than they would have recovered if the government had not intervened and GM had liquidated. That's why a majority of GM's bondholders already support this deal。

　　Throughout this process, I wanted to ensure that none of GM's stakeholders receives special treatment because of our government's involvement. That's why I instructed my Auto Task Force to treat all of GM's stakeholders fairly and to ensure that this restructuring was carried out in a way that was consistent with past precedent—— and it was。

　　What we have, then, is a credible plan that is full of promise. But GM can't put this plan into effect on its own. Executing this plan will require a substantial amount of money that only a government can provide. Considering GM's extensive operations within their borders, the governments of Canada and Ontario have agreed to do their part with an investment in GM's future, and I want to thank them for doing so. I also want to thank the government of Germany for working diligently to reach a Memorandum of Understanding on the sale of a major stake in GM's European Division and for providing interim funding that will make it possible for that transaction to be finalized。

　　But of course GM is an American company with tens of thousands of employees in this country, and responsibility for its future ultimately rests with us. That's why our government will be making a significant additional investment of about $30 billion in GM ——an investment that will entitle American taxpayers to ownership of about 60 percent of the new GM。

　　如今，我们发现通用汽车公司的情况与之前克莱斯勒公司破产时大相径庭，这主要因为通用汽车公司与克莱斯勒公司不同，规模更庞大，因开展全球业务而更复杂。在这种情况下，通用汽车公司的管理层，包括新任CEO韩德胜、临时董事长肯特·克雷萨以及所有他们的同僚，孜孜不倦地制定着计划，以期达到我最初提出的严格要求：精简通用汽车品牌、清理资产负债表、使其参与竞争并取得成功成为可能。

　　通用汽车公司及其利益相关者与白宫汽车行动小组一道推出了切实可行的计划，给予这个标志性的美国公司一个东山再起的机会。该计划依据现今汽车市场实际情况制定，即使我们国家的经济恢复时间比预期要长，这项计划也能够使通用汽车公司步入赢利轨道。通用汽车公司近期在制造更优质的汽车方面取得了进步，这也是拟定上述计划的基础。该计划实施生效后通用汽车公司，通用将在国内汽车市场占有更大份额，其中也包括节能汽车市场。事实上，如果一切按计划进行，本土生产的通用汽车在美国的市场份额将在近30年内首次实现增长。

　　任何时候，像通用汽车这种规模庞大的公司进行重组时，要使全体股东达成共识谈何容易？尽管通用汽车公司的重组协议让人难以接受，却又是很公平的。协议要求汽车工人联合会进一步削减赔偿金和退休人员健康保险福利。此前，他们已经做出了诸多让步，然而这一次的牺牲无疑是最痛苦的。协议要求通用汽车公司的股东们放弃目前所持股份——任何此类私营企业重组时都会采取这一做法。此外，该协议还为无担保债券持有人提供了一份较为公正的条款——使他们所获股份比他们本身要求的还高，远远高于政府不予干预而任由通用汽车公司破产清算所能给出的价值。因此，大多数通用汽车公司债券持有人均表示拥护这一方案。

　　在整个过程中，我希望确保任何利益相关者都不会因为政府的介入而受到特殊待遇。因此，我命令白宫汽车行动小组公平地对待通用汽车公司所有利益相关者，确保本次重组过程与先前所有公司执行此程序过程保持一致。事实上，通用汽车公司做到了这一点。

　　现在，我们拿到了一份颇具光明前景的详细方案。但是，单靠通用汽车公司的力量是不可能实施该项计划的。计划的执行需要注入大量资金，而庞大的资金数额只有政府能够承担得起。考虑到通用汽车公司在境内业务广泛，加拿大政府和安大略省政府均同意出资，为通用汽车公司的未来贡献自己的一份力量，我对此表示感谢。同时，我还要感谢德国政府，它为达成通用汽车公司欧洲部主要股权出售谅解备忘录作出了不懈努力并提供过渡基金，使交易成为可能。

　　但通用汽车毕竟是拥有数万名雇员的美国公司，因此，它的未来最终将由我们来负责。这也正是政府将为通用额外投入300亿美元巨额资金的原因，这项投资将使美国纳税人拥有新通用汽车公司约60%的所有权。