Hummer, Saturn and Saab to go by year's end

General Motors CEO Fritz Henderson sat before reporters admitting what the automaker had proposed back in February had to go farther than before and at a much faster pace.

The updated plan calls for the elimination of the Hummer, Saturn and Saab brands by the end of this year, and after 82 years in business, the phase-out of Pontiac by the end of 2010.

GM to Eliminate Hummer, Saturn, Saab, and Pontiac - 33 News - We Believe in This Valley

"On top of that, GM initiated a bond sale on Monday hoping to raise $27-billion through the swapping of debt for shares in the company."

I'm at a total loss trying to figure out how this works.

its sad to see saturn die off. Saturn was GM's "do over" and they screwed it up. If they can Saturn there goes 25% of GM's Hybrids. The Two mode Saturn Vue was about to be released, it would've been the first affordable (true) Hybrid (the other hybrids that are two mode start at 40k). What a pity