General Motors, Chrysler, Ford shutter factories while waiting rescue deal

General Motors Corp., Chrysler LLC and Ford Motor Co. have to shutter 59 of their factories in the coming months, while they wait for news from the U.S government over a rescue deal. All three U.S. automakers are seeing the worst car sales in 26 years.

These closures are proving just how far these automakers are willing to go, just to try and save some cash. This sort of measure is needed; as the U.S. government will not broker any sort of deal unless they can see that the automakers are doing all they can to try and keep their businesses going.

Ford are in trouble, but it is GM and Chrysler who are feeling the pinch more, and are hoping that President George W. Bush will be able to approve emergency loans, otherwise both automakers face collapse and there would be millions of job losses.

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