US Auto Makers Need A Bail Out Fast

American auto makers are in desperate need of cash.  Its not a question of investing in new technology or competing with foreign manufacturers, its a question of remaining solvent, paying the bills.  GM reportedly has enough cash right now to see it through April/May.  After that, its not that bankruptcy will become an option, it’ll be the reality that is not being able to fund world-wide operations that include factories, offices, staff, raw materials, suppliers, employees, etc.. The hope now is that the feds will come to the rescue with low interest loans. 

Some key members of Congress, and President-elect Obama, are pushing very hard to get this help in the hands of GM, Ford, and Chrysler sooner rather than later.  Ford is in slightly better shape, but only because they mortgaged everything they had last year, that includes every asset from its factories to the the Ford name itself.  Chrysler is supposedly already insolvent, and remains in operation only because its owners, Cerberus Capital Mgmt, are paying the bill.  MSNBC video below.