What's Next for the Auto Industry?
Wall Street Strategies submits:So here we are in the last week of 2009, and what a year it has been for the automakers. Two of Detroit's "Big Three" filed for bankruptcy and are now shells of their former selves. General Motors (MTLQQ.PK) after filing for bankruptcy on June 1 is in the midst of trying to get rid of four of its brands (Pontiac, Saturn, Saab, and Hummer). It had an agreement to offload Opel and Vauxhall but that deal fell through and the board has decided to turn its attention to turning around GM Europe operations next (more on this later in the article). The other of Detroit's Big Three to file for bankruptcy was Chrysler, which after filing for bankruptcy in April has since been basically sold to Fiat (FIATY.PK) (and the U.S. and Canadian governments). Chrysler is still a long way from rebounding, but there are signs that General Motors is on the verge of a resurgence.Complete Story »