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American auto industry continues demise

May 14, 2009
Maui Weekly

General Motors recently announced the discontinuation of the Pontiac brand and popular automaker Chrysler also revealed it has filed for bankruptcy protection. Chrysler—the nation’s third-largest automaker—missed a government deadline to submit a restructuring plan so that it may continue to receive government aid. Its Chapter 11 filing has been supported by the administration of President Obama, and Chrysler says it will “emerge from reorganization as a revitalized company.”

 
 
 

 

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