GM set to reveal viability plan details today

General Motors Corp. plans to announce details of its revised viability plan early this morning.

The troubled Detroit automaker is expected to formally launch a debt-to-equity exchange with unsecured bondholders early this week, presumably today, as part of its efforts to restructure nearly $28 billion in debt and to satisfy the White House's demands for a healthy balance sheet.

GM faces a June 1 deadline to improve its restructuring plan and impress President Barack Obama or face bankruptcy. Obama's auto task force had ruled.

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