Bailout Update

GM is being told by the US Treasury Dept to prepare a bankruptcy plan by June 1. Look for a two GM concept where the 'good' GM goes through one track and the 'toxic' GM goes through another. Saturn and Hummer would be the causalities.

The Chrysler - Fiat deal is making some news this morning also. Seems Fiat may be in the running for a larger Chrysler ownership stake (it was to have been significantly less than 50%) and in a position to put in a new board of directors and a management team.