BERLIN (AP) - Global automakers are reacting with anxiety to news that General Motors and Chrysler had failed to submit acceptable plans to receive more government money.
The failure of the restructuring proposals increases the likelihood that GM and Chrysler will file for bankruptcy. GM owns Adam Opel in Germany and Saab in Sweden, while Chrysler has a deal pending with Fiat in Italy.
Japan's Nissan and Toyota say their critical North American business would be hurt by the collapse of one of the U.S. automakers because they share the same parts suppliers. But yesterday's forced ouster of GM chief Rick Wagoner is welcomed by some.
Opel top employee representative Klaus Franz said Wagoner was a symbol of mismanagement.