New GM CEO says bankruptcy still an option

General Motors Corp.'s new chief executive said Monday there's a greater risk that the company will have to reorganize through bankruptcy, because of greater demands from the Obama administration to get debt off its balance sheet.

Fritz Henderson told reporters on a conference call that the company would still prefer to restructure outside of court, but the various support mechanisms Obama outlined Monday would provide a better cushion for the company to reorganize under a court-order bankruptcy if necessary.

"We were encouraged, we talked to the auto task force about ultimately bringing the consumer back in the game," he said.

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