The Wall Street Journal reports, "Bruised by a deep sales slump and a half-century-low in its stock price, General Motors Corp. is preparing to cut thousands more white-collar jobs and is considering whether it should sell or shutter more of its brands, people familiar with the matter said."  GM's executive board is expected to vote on the cuts during its August meeting, as part of a restructuring plan aimed at returning the company to profitability by 2010.  Most automakers suffered sales declines through the first half of 2008 as surging gas prices and an economic downturn have pushed consumers away from showrooms.  GM, heavily reliant on sales of fuel-thirsty SUVs, is seen by some analysts as one of the more vulnerable automakers.  Weak sales have recently pushed GM stock below $10 per share for the first time since the 1950's.

GM currently sells vehicles under eight brands.  Until recently, company executives believed "that having different brands helped the company reach more potential customers and gave it more tools in fighting the likes of Toyota Motor Corp."  But "Critics have said keeping so many brands is a drain on resources and leaves many of its divisions competing with each other."

CNN Money notes, "All the company's brands, with the exception of Chevrolet and Cadillac, are potential candidates for elimination said the report. Among the most likely candidates for elimination are Saturn and Saab."  Many sources have reported that GM is already shopping its Hummer brand, but struggling to find interested buyers.

In addition to cutting white collar jobs and selling underperforming brands, the General will "speed the introduction of small cars from other markets," according to the AP.

GM has several small cars in its development pipeline that could help rescue the giant's profits in the 2010 model year, including a small car said to achieve 40mpg, and the highly-anticipated Chevy Volt, which may best that figure. 

GM's restructuring, the Journal notes, "marks not just another humbling of the nation's largest auto maker, but offers competitors a chance to steal market share."  Chinese and Indian automakers are among the suitors likely to bid on brands GM may try to shed, offering automotive companies in those countries entry into the U.S. market.

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