GM and Chrysler Face Steep Road to Recovery in 2010


When history is written, 2009 will go down as an ignominious year for Detroit. Driven to the brink by a potent combination of fleeing customers and a free-falling economy, General Motors and Chrysler were left staggering in the first half of the year, finally capitulating to bankruptcy after Uncle Sam intervened to save the companies. Once icons of American industrial might, the automakers cut jobs, closed plants, eliminated models and shed storied brands.