Daily Archives: June 4, 2009

John Gapper

Further to my column on General Motors, I wonder whether the US government’s bail-out of Detroit is fated to go the same way as that of Wall Street. The White House wants to keep out of day-to-day decision-making in companies, but Congress is another matter.

As the FT reports, the Senate commerce committee is already weighing in with pressure on GM and Chrysler to amend their plans to close local dealers. This is a long-running sore with Detroit, since dealers were protected (before Chapter 11) by state laws: Read more