IPO for GM, Chrysler?
President Barack Obama today announced the final move the government could do to help General Motors and Chrysler, two of the long established icons in the United States automobile industry for a long time now. The government's intervention to keep them back on their feet again was enlivened by the president's pronouncement over the federal government's plan to avail at least 60 percent in bailout money to help GM undergo complete restructuring , after filing the Chapter 11 bankruptcy protection. However, the government's assurance of billions in bailout money doesn't mean that their operations will be the same again. That's the beauty of it all. But the ugly part is when GM and Chrysler would be cutting thousands of employees if only to keep their operations going. A test case scenario was already felt by a large number of auto dealers when they got notices for them to close down their outlets owing to the on-going financial turbulence that affected its opera