The Big Three: Bailout or Bankruptcy?

by Jennifer Chamberlain March 7 2009, 14:21
The auto industry’s troubles have recently come to light in mainstream American news. The big three automakers, comprised of GM, Chrysler and Ford, have seen slumping sales and are in need of major financial help to avoid going under. In 2008, GM’s sales were down 21% in North America. Ford reported a loss of $14.6 billion dollars in the same year. Chrysler’s sales were down 30% in 2008, which was the largest reported loss of the major auto makers last year. Both GM and Chrysler have requested help in the form of federal loans from the US government, while Ford has made an effort to stay afloat without federal help. [More]

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