Exclusive outtakes from industry leaders
Audio – The hits just keep on coming in 2008!
It’s not like 2008 has been a dance around the maypole.
Fritz Henderson, chief operating officer of General Motors Co, said on Monday at the Reuters Autos Summit that the events of this past weekend — with the collapse of Lehman Brothers and sale of Merrill Lynch are just another things making a tough year worse for struggling U.S. automakers.
Now, as some companies need to raise cash to survive, they are facing a marketplace that doesn’t look too favorably on anything below triple-A.
Henderson, one of the featured guests on the first day of this year’s summit, said he found the massive tectonic U.S. economic shifts of the past weekend “more than a little sad.”
Henderson was one of the featured guests at this year’s summit, whch runs through Thursday in Detroit.