Monday, Mar 30, 2009
Does this sound like bad news?
FT: GM and Chrysler denied extra funds
The Obama administration refused on Sunday night to give fresh bail-out money to General Motors and Chrysler, telling the carmakers to come up with new plans or risk insolvency.
Posted by watchman @ 12:55 PM (7407 views) Add Comment
3 Comments
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1. little professor said...
It was pretty much expected that Chrysler wouldn't get any more money - the task force report showed that they are simply not viable as an ongoing concern. They have to either sell themselves to another company (Fiat is in the frame) or go bust.
GM is more surprising, and if it went bankrupt there would be huge shockwaves around the world. Germany won't save Vauxhall/Opel
2. flintster1994 said...
Just on the BBC
http://business.timesonline.co.uk/tol/business/markets/united_states/article6002277.ece
3. rocket robbie said...
At least it was only 17 billion down the drain, could have been worse, NOT !!!!