Fate of GM and Chrysler

The decision of President Obama to reject the turnaround plans for both GM and Chrysler must be looked at seriously. I have the same opinion with President Obama regarding GM's future plans i.e. GM has not provided an attractive avenue for its own survival. There is no obvious profitable plan which GM has put forward. Thus my opinion is even with the extra 6o days, GM is still in its way to Chapter 11.

But I am really surprise with President Obama strong stance on Chrysler entering into a partnership with Fiat. I thought the plan was to merge GM and Chrysler but I guess Washington has its own option plan. I have never driven a Fiat BUT I have been in a Fiat i.e. Fiat 124 and Fiat Tempra (Malaysian version)

I look forward to the developments in the coming weeks.