CHANGE WE CAN'T BELIEVE IN - AT 1:19 P.M. ET: 

April 24 (Bloomberg) -- General Motors Corp., facing the threat of a bankruptcy filing if it can’t meet a June 1 U.S. deadline, will preserve the GMC truck line and drop its 83-year- old Pontiac brand as part of a government-led recalibration of its business plan, people familiar with the decision said.

The Detroit automaker will keep the GMC, Chevrolet, Cadillac and Buick brands, after a review that included profitability with the Obama administration’s automotive task force, said the people, who asked not to be named because the decisions have not been announced. GM may reveal next week the end of the make that produced the Grand Prix, Bonneville and Firebirds, they said.

COMMENT:  No more Pontiac.  But you can be sure, in the age of government control, that we'll soon see the Chevrolet Efficiency, the Buck Planetsaver, the GMC Windpower, and the Cadillac Rich but Green.  Can't wait to drive 'em.  Understand the dash boards will be spectacular, and will include the new digital guilt meter.

April 24, 2009