So says ABC. General Motors is expected to dispose of more brands in the coming months. GM has already closed the book on Pontiac, which will be gone by the end of 2010. The future of three other brands remains in the air. Most who closely follow the auto industry expect Hummer will be walking the plank. Saab is expected to become an independent company. Saturn will only survive if the dealership network can work out a plan to buy Saturn such that GM isn't still supplying dealers after the end of 2009. So clearly the clock is ticking on that. Other news, the US government is expected to take a 70% stake in General Motors and is backing GM warranties. GM's creditors are taking equity in exchange for forgiving debt. 14 plants and 20,000 jobs will be lost in the process. Metaldyne, GM's top transmission supplier will follow GM to bankruptcy. Obama will address nation at 11 am. That's the update.