General Motors will file for bankruptcy on Monday, forcing the 100-year-old carmaker into a new and uncertain era of government ownership.
The White House-orchestrated ouster of General Motors’ top executive sent a chilling message to unions, management and bondholders.
South Africa said on Monday that industry bailouts by rich nations, especially in the carmaker sector, could be a covert form of protectionism.
President Barack Obama has decided to form a government task force for restructuring the struggling US car industry instead of naming a ”car czar”.
Carmakers put on a brave face at the world’s biggest car show on Sunday, with the sales outlook bleak for the coming year.
The Bush administration said on Friday it could be willing to provide emergency aid to the teetering US car industry
