Idiots.
Didn't we play the "let's restructure GM" game before? Dropping Pontiac is retarded. Here's what they should have done:
Sell off Saab, Opel, Vauxhall, Holden, and interests in Daewoo, Fiat, Toyota, Suziki, etc.
Chevrolet - value oriented vehicles: Cobalt (compact FWD), Malibu (mid-size FWD), Impala (full-size FWD), G6 (mid-size RWD), G8 (full-size RWD)
Pontiac - sport oriented vehicles: Camaro, Sky Turbo, Corvette, Z06
GMC - trucks/vans/SUVs: 1500, 2500/HD, 3500/HD, Savana, Trailblazer (reengineered as a crossover SUV/minivan), Suburban
Cadillac - luxury oriented vehicles: CTS/CTS-V (shared platform w/ G6), STS (shared platform w/ G

, Escalade (shared platform w/ Suburban)
Saturn - green/hybrid: "Saturn Edition" becomes the hybrid version of above cars... like a "Chevy G6 Saturn" would be a hybrid drive G6.
Buick - Overseas brand: rebranded selection of above vehicles for sale in China/Asia where the Buick name is HUGE
If there are any brands left that I forgot, well they should be dropped. But there's just no reason to kill whole lines of cars like all of Pontiac... just stop treating each brand as a sub-company of GM and take central control of them all. Then come up w/ a cohesive line of vehicles then use the existing brand names to help the public identify what they're getting. Make all the dealerships sell the whole lineup as "GM" dealerships, not a "Cadillac dealership" or a "Chevy dealership", etc.
I swear the general public has more knowledge about how to save GM than GM's leadership does.