The likely road ahead for US automakers

In this Op-Ed piece, Professor Ed Altman advocates bankruptcy protection for GM and Chrysler û but with continued government assistance.

This is an alternative plan for the restructuring of the US automobile industry and also a solvency analysis of General Motors. I was one of the first analysts to advocate that GM should file for bankruptcy protection under Chapter 11 of the US Bankruptcy Code, although I also believe that the government should not turn its back on this important firm, but provide a massive debtor-in-possession DIP loan to sustain it during what is likely to be a long restructuring...

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