Wednesday, 06 May 2009 05:01

Chrysler's Chapter 11 opens door for GM's

JPMorgan analyst Himanshu Patel says there's a 60% to 80% chance GM will default.

After the government proved it's willing to let an automaker go into bankruptcy — and suffer the supply-chain and customer loyalty risks that go along with that — little could stop GM from filing for court protection if it fails to slash debt and win new labor contracts.

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