Bankruptcy is not an Option for General Motors….but there seems no other Option…..last Night the Senate failed to clear the Bail-out plan for Emergency Aid of US $ 14 billion to the three Auto Majors in USA….General Motors,Chrysler and Ford
Dow closed at 8565 yesterday and is likely to dive below 8000 today….General Motors closed at US $ 4.12 and is sure to collapse today as will both the other two Majors Auto companies too
Asian Markets are all down 3% to 7% today
The Auto Alphabet in USA may well read as Automobiles…Bankrupt….Chapter 11….Detroit…………….Zero