Automotive Bailout Battle Intensifies on Capitol Hill

SUGAR LAND--November 19, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--While President-elect Barack Obama is going through the laborious process of selecting a new Cabinet and organizing his upcoming presidential reign, members of Congress are knee deep in intense debate over the fate of the American automotive industry. Coming on the heels of decades of mismanagement and poor planning, the Detroit Three have placed themselves in a dire situation in which they all potentially face bankruptcy. As a result, General Motors Corporation (NYSE:GM) (Detroit, Michigan), Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Chrysler LLC (Auburn Hills, Michigan) have come to Washington, D.C., to ask Congress for tax dollars to help them avoid total collapse.