Latest news from what posted before concerning the fate of General Motors, GM and Chrysler from the Obama administration. The departure of GM CEO, Rick Wagoner, on behalf of the White House, both company’s viability plans have been rejected. Following the departure of Wagoner, Fridz Henderson will now act as interim CEO of GM Company.
The White House will be giving 60 days for them to come up with better viability plan together with the operating capitals. Chrysler need $6 billions from the government if the negotiation goes well. However, if these plan fails, bankruptcy may only be the option.
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