How Soon Until GM Follows Chrysler Into Bankruptcy?

President Obama's decision to save Chrysler by pushing it into bankruptcy Thursday puts the major U.S. automaker in risky, uncharted territory and could portend a similar outcome for General Motors Corp. as it races to meet its own government restructuring deadline.

The administration is betting Chrysler's future on the company's ability to emerge quickly from what can be a complex and unpredictable legal process. Obama also is tying the company's fate to Fiat, an Italian owner that may not be able to crack the code of U.S. car buyers.

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wins555 - 5/1/2009 9:26:07 PM

+2 Boost

GM is sure to follow when the deadline arrives. Like Chrysler, the creditors must be "eliminated" to give GM a clean slate to survive. But to operate at a much smaller capacity and possibly break the several brands to be "independent" in some ways.

wins555 - 5/1/2009 10:39:16 PM

+2 Boost

Nobody wants to see GM fold up and become a memory. Me included. But in a business point of view and to make use of US bankruptcy laws, as Obama said, it is the only way to give GM a fighting chance. And the cash for clunkers law/bill has to be passed and soon.

doctorproctor - 5/2/2009 6:26:10 PM

+2 Boost

Not long.....and as for Chrysler's merger with Fiat?...it won't last.