General Motors, the nation’s largest automaker and for decades an icon of American manufacturing, stood on the brink of a bankruptcy filing and a de facto government takeover on Monday.
General Motors, the nation’s largest automaker and for decades an icon of American manufacturing, stood on the brink of a bankruptcy filing and a de facto government takeover on Monday.
The price of gas, rising for the 33rd straight day, has reached $2.50 a gallon, motorist group AAA reported Sunday.
Chrysler and GM employees are on the edge of their seats, waiting to find out what will be left standing after the dust settles. Meanwhile, a vast network of companies outside Detroit are bracing for impact.
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Wall Street will return for the first trading day of a new month Monday with the economic outlook still unclear and the bankruptcy of a major American business icon looming large.