3:31 PM ET 5/26/09 | Reuters
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3:41 PM ET 5/26/09
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WASHINGTON, May 26 (Reuters) - Efforts by General Motors Corp (GM) to sharply cut debt and restructure its business are expected to continue until the June 1 government deadline for possible bankruptcy, the White House said on Tuesday.
White House spokesman Robert Gibbs told reporters that "a lot of stakeholders are making sacrifices" and believes the process will run its course before any determination is made on a Chapter 11 filing by the automaker.
(Reporting by Caren Bohan and John Crawley. Editing by Sandra Maler)