General Motors couldn't possibly have imagined this outcome when it made the calculated decision last fall to ask for survival loans from the federal government instead of taking its chances on a bankruptcy filing. Now, GM may get the bankruptcy anyway, and its future will apparently be dictated by a White House whose vision for the company is driven more by ideology than the marketplace.
Chrysler has been told it must merge or else.
President Barack Obama tore up the turnaround plans of both automakers Monday and handed them plans of his own. While the president said repeatedly that he "has no interest" in running a car company, he appears to be very much running GM....
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