October 10, 2008

Auto Giants Nearing Bankruptcy

General Motors Corp., Ford Motor Co. and Chrysler LLC may be forced into bankruptcy by slowing economies and dwindling U.S. auto sales, Standard & Poor’s analyst Robert Schulz said today.

“May be forced” is the word to note, here. You keep hearing GM people say that bankruptcy is not in the best interest of anyone, or, they say it is not an option and they are moving forward with their rebuilding plans. However, they may not have a choice.