The GMC manual for 1947 to 1953 gives a method for removing it. They suggest some kind of a reamer with cutters that are used to grab the bushing. It then describes the honing process, doing both bushings at once with the cover bolted in place. I think that if you cut a slit in the bushing, it would come out quite easily. The bushing in the rebuild kit may need some work before it fits.
