The face of American industry is changing more than has been seen since 1980, 1942, and possibly since the turn of the last century. With that said, we stand in awe as we watch icons of a bygone era shaken and fall. I ask myself who’s next. It seems that without some government intervention, that question is about to be answered. I am adding this post and article simply as a reminder to what is happening later. This is an historic time in the worst sense.
As talks between General Motors Corp. and long-time rival Chrysler LLC continued over the weekend, a harsh reality has emerged: Without a merger and possibly an assist from the federal government, two of Detroit’s Big Three auto makers could run out of cash within a year.