Gm & Chrysler not ok yet by a MILE...

[ozpont]

This is  perhaps the start of the end for either one unless AGAIN a US Government funding agreement comes into force.. GM and Chrysler are drastically underfunded on their Retirement plan deal struck with the UAW.. that unless they both return to profit and substantial MAJOR profits are made.. they must again cope the result.  Its widely seen as a possible END to either company.... if the US Federal Government can't bail them out.. again...!

“In the event that the companies do not return to profitability in a reasonable time frame, Treasury officials said that they will consider all commercial options for disposing of Treasury’s equity, including forcing the companies into liquidation,” the report said.

I'm pretty sure this very subject will be raised in the 2nd half of the Jim Wangers Presentations in the 2nd week of May around the country.

http://www.nytimes.com/2010/04/07/business/07cars.html?scp=7&sq=nick%20bunkley&st=csehttp://www.nytimes.com/2010/04/07/business/07cars.html?scp=7&sq=nick%20bunkley&st=cse

DETROIT — The pension plans at General Motors and Chrysler  are underfunded by a total of $17 billion and could fail if the automakers do not return to profitability, according to a government report released Tuesday.