INSTANT VIEW: General Motors announces broad restructuring

NEW YORK (Reuters) - General Motors Corp on Tuesday said it would cut salaried employment costs by 20 percent, sell up to $4 billion in assets and borrow at least $2 billion in a bid to bolster its liquidity by $15 billion through 2009.

The following are market comments about the company's plans.

MIRKO MIKELIC, SENIOR PORTFOLIO MANAGER, FIFTH THIRD ASSET MANAGEMENT,

GRAND RAPIDS, MICHIGAN:

"They are just trying to be safe rather than sorry. It's probably easier to raise money right now for them as opposed to waiting until the last minute in a year or two.

"They have way too many name plates. There is a whole series of things they really need to do to cut costs and these are things it would have been easier to do in 2000.

"Now they are reacting to events and things are really coming to a head. Right now auto sales are at recession levels.

"There are a lot easier CEO positions than dealing with all the issues they have. GM has so many problems to deal with, it is just an absolute nightmare.

"They are right in the thick of all the issues in the United States. Throw in gas and energy prices on top of that and it is just very difficult to see anybody being successful in that position."