Summary
The prospects of at least two of Detroit's famous "Big Three" carmakers running out of cash loom larger today after the US Senate rejected a pounds 9 billion bail out of the country's crisis-hit automotive industry.
General Motors, once the undisputed king of the carmakers, and Chrysler could have to file for bankruptcy protection as early as this week, experts believe.See the full content of this document
Extract
Senate Snubs Eur9 Billion Bail Out ; Automotive
The crisis affecting Detroit worsened after rescue talks broke down over the refusal of the United Auto Workers union to meet Republican demands for aggressive wage re...
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