Detroit 3: Bankruptcy = doom Could General Motors, Chrysler LLC or Ford Motor Co. survive a bankruptcy filing? Could the domestic industry? The CEOs of the Detroit 3 answered with an emphatic "no" last week when some Washington lawmakers broached bankruptcy -- even a quick, prepackaged one -- as an alternative to a $25 billion rescue package. FULL STORY |
Ch. 11 would hit dealers hard -- fast A bankruptcy filing by a Detroit 3 automaker would kill many of its dealerships quickly even if the company successfully reorganizes, dealers' lawyers predict. Many dealerships that already are struggling with frozen credit and an economic recession would not survive the instant cash crunch if an automaker decides to seek Chapter 11 bankruptcy protection, the lawyers say. FULL STORY |
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