Today, It's Chrysler... Tomorrow, GM?

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President Obama says he does not want to run a big automaker, but the federal government could end up owning 50% of General Motors. In the meantime, it will own 10% of a new, multi-national company when Chrysler merges with Fiat, presuming, of course, that bankruptcy goes well. Big banks who've accepted billions in federal bailouts didn't have much choice when Obama demanded they take "haircuts" to keep Chrysler in business. But smaller investors, including hedge funds, said no deal, forcing Chrysler's reorganization in bankruptcy court. We hear about the economics and politics involving investors, unions, part suppliers and dealers. Also, what about the cars? Will American drivers change their ways and go European?  




Warren Olney