WASHINGTON (AP) -- The White House says President Barack Obama thinks progress is being made toward restructuring General Motors Corp. and putting it on a path to being a viable auto company.
White House press secretary Robert Gibbs says: "We have seen encouraging signs." But he refused to speculate whether GM would be able to avoid bankruptcy.
Gibbs was speaking to reporters as the United Auto Workers union ratified a package of concessions designed to reduce GM's labor costs. The company is expected to file for Chapter 11 bankruptcy protection filing on Monday.