Wall Street rumors have been circulating widely in recent days as to the possibility of the largest carmaker in the world, General Motors, a company seen as and the backbone of American industry may be considering filing for bankruptcy. Experts say the closure of GM would be a deep psychological blow for the US and would help to redefine the expectations of ordinary working Americans as the decent wages and health care schemes would become a thing of the past within the car industry A motoring analyst at investment manager T Rowe Price told reporters "I personally think a bankruptcy is very unlikely, particularly over the short term" adding that the companies liquidity may save it in the long term. Source:
http://www.guardian.co.uk
