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November 19th, 2008
Posted: 04:26 AM ET
NEW YORK (CNNMoney.com) — A bankruptcy of General Motors or another major automaker could hit American consumers hard, industry experts warn. GM warned November 7 that it will run out of the cash it needs to operate late this year or early next year. GM and fellow Big Three car companies Ford Motor and Chrysler LLC are seeking financial assistance from the federal government. Executives at GM have repeatedly maintained that bankruptcy is not an option. 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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