World's largest automaker faces imminent bankruptcy - Chrysler and Ford to follow

NVDL: It is necessary that these old era companies fold. Pouring money into doomed enterprises simply makes you even poorer and delays the inevitable. The easy motoring/polluting era is ending.

I feel for those who have lost their jobs. These people ought to be recruited into developing railway stock and infrastructure. This what America really needs. The same is true in this country, South Africa.

clipped from news.yahoo.com "If GM is telling us the truth, they go into bankruptcy and you see a cascade like you have never seen," said Sen. George V. Voinovich, R-Ohio, who was working on one rescue plan Wednesday. "If people want to go home and not do anything, I think that they're going to have that on their hands." The automakers — hobbled by lackluster sales and choked credit — are burning through money at an alarming and accelerating rate: about $18 billion in the last quarter alone. General Motors Corp. has said it could collapse within weeks, and there are indications that Chrysler LLC might not be far behind. Ford Motor Co. has said it could get through the end of 2008, but it's unclear how much longer. Not our responsibility, countered the White House. "We have to face reality," Reid said.