General Motors: end of the road?
Is it all over for America’s biggest car maker? As Barack Obama’s new administration looks into the deep hole of US car makers’ finances, Andrew English examines the available options
Andrew English
11 Nov 2008 Telegraph
“It’s a disgrace man, like some corporate train wreck. I feel ashamed.”
Early evening drinkers in the Pyramid Alehouse opposite the Seattle Mariners’ baseball stadium were in no mood to give the world’s biggest car maker an even break last night. And the next couple of weeks look to be make-or-break time for General Motors and the other “big three” US car makers, Ford and Chrysler, as Congressional Democrats seek to add car makers to the US Treasury’s $700 billion economic rescue package for financial institutions. This would give the car manufacturers access to short-term funds totalling around $25 billion. Read the rest of this entry »
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