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November 19th, 2008
Posted: 09:05 AM ET
By Chris Isidore NEW YORK (CNNMoney.com) — A bankruptcy of one of the Big Three automakers could not only be a blow for that industry, but it could hit American consumers hard, industry experts warn. General Motors said on November 7 that it will run out of the cash it needs to operate late this year or early next year. On Tuesday, Chrysler LLC CEO Robert Nardelli told the Senate Banking Committee his firm is also at risk of running out of cash. He and the CEOs of GM and Ford Motor are seeking financial assistance from the federal government. Executives at GM have repeatedly maintained that bankruptcy is not an option, and Nardelli said his firm also wants to avoid a filing. But there is enough opposition to a bailout to make a bankruptcy, or even outright failure, of the nation’s largest automaker a serious risk in the coming two months. |
 
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