COLUMBUS, Ohio (AP) -- A union leader in Ohio is encouraged by General Motors Corp.'s massive restructuring plan that will cut jobs and phase out the storied Pontiac brand.
Dave Green, president of United Auto Workers Local 1714 in Lordstown, says GM has had too many product lines for years and needs to streamline its operations. He says GM is on the right track and will pay back its government loans.
Lordstown, near Youngstown, is home to a major GM assembly plant that makes the Pontiac G5, as well as another compact model, the Chevrolet Cobalt.
The plan announced by the automaker on Monday would cut 21,000 U.S. factory jobs by next year and includes an offer to swap roughly $27 billion in bond debt for GM stock.