GM, Ford and Chrysler are asking the House and the Senate for $24 billion dollars to keep them from filing Chapter 7 bankruptcy. Each of the CEO's, including Ford's current CEO and former CEO of Boeing Airliners Alan Mulany, are stating that the financial crisis has caused huge losses in their companies. Mulany says that while he worked for Boeing after the 9/11 terrorists attacks in 2001, he witnessed a huge decline in business because people were afraid to fly. He helped Boeing make it through the bad times and says he can do the same for Ford. This crisis is much more widespread and will take much help from congress to perservere.
Mark Thomas, BS IT
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This crisis comes at a time when these automakers are on the verge of introducing the automarket to green and hybrid technology in cars. Consumers may never get a chance to drive these innovative cars if they do not make it through the crisis.
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