GM to move out of Detroit?

Is General Motors thinking about moving its corporate headquarters from Detroit? GM CEO Fritz Henderson didn’t rule out the idea today in a conference call with reporters.

He stressed that there wasn’t a plan currently to do so but noted that the struggling automaker is looking at every idea to improve its business.

“We’re looking, frankly, at everything within our business but it’s not like we have that queued up at the top of our list. As we look at the structure, look at the business, we’re looking at everything," Henderson said. “At this point, I don’t really have anything to report. Our headquarters is here, we’ve got a fairly large complement of people here. And we’re proud to be here."

Henderson added: “We don’t have … such plans but if we did, it would be motivated by business rationale, which would be cost, efficiency and speed."

GM faces a June 1 deadline to restructure its debt or face bankruptcy. The company is staying afloat on a $15.4-billion federal loan and has said it needs $11.6 billion more to keep operating.

Henderson said that it is still more probable that GM will file for bankruptcy, but he noted there is still an opportunity to restructure outside of court.