Currently, the US auto industry is in the brink of failure. GM is the most immediate of the 3, needing $4 billion before the end of this month and $15 billion by the end of 1st Quarter 2009. Chrysler is next by admitting the need of $4 billion by the end of the 1st Quarter of 2009. Ford is not in need of immediate cash; however is afraid of speculation once GM and Chysler goes.
It would be scary to see GM go under. However, the auto industry had brought this to themselves. I do not think the US Government should help them out. The auto companies got themselves into this mess - primarily with poor management. I understand the economic ramifications (ie: unemployment, foreign trades, etc.) of the US auto companies going bankrupt, I think helping them now will only hurt us in the long run. If the governement bails them out now, then they will continue their poor performance. The US auto industry needs to completely re-structure themselves.
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