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See What People Are Saying About... Flurry Of Activity In Auto Industry

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It seems the tough talk from President Obama's has sparked the car makers into action.

Both General Motors and Ford have just announced a new incentive to quickly boost sales. Both will cover payments if customers lose their jobs. GM will cover nine payments, up to $500 per month while Ford will cover payments for up to a year.

Also, Fiat's chief executive has flown to Detroit to meet with trade unions and creditors after U.S. authorities gave the carmakers 30 days to set up a partnership to save Chrysler.

All this comes just a day or two after President Obama forced the departure of GM CEO Rick Wagoner and said General Motors did not propose changes that were sweeping enough to justify further large federal bailouts.

The White House also raised the possibility of a controlled bankruptcy to help GM "restructure quickly and emerge stronger" —uttering the term that industry and union officials have warned repeatedly could lead to the collapse of an entire domestic industry.

And that leads to our Fast Money Reader Poll. Do you think the government would really allow the car makers to go bankrupt?




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