GM, Ford May Not Be Able To Avoid Bankruptcy

Law360, New York (October 10, 2008, 12:00 AM EDT) -- Top U.S. automakers Ford Motor Co. and General Motors Corp. may be staring bankruptcy in the face, an expert said Friday, adding that economic analyses show the odds are between 50 and 70 percent one or both will have to file in the next five years.

The grim assessment, from professor Edward Altman of the New York University Stern School of Business, came amid a screeching slowdown in sales, a consumer and corporate credit crunch, high fuel costs and a downgrade of the American corporate icons'...
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