Bush administration is looking at "orderly" bankruptcy as a way to deal with the desperately ailing U.S. auto industry

Bush administration is looking at "orderly" bankruptcy as a way to deal with the desperately ailing U.S. auto industry, the White House said Thursday as car-makers readied more plant closings and a half million Americans filed new jobless claims.
With Detroit anxiously holding its breath and waiting for federal help, President George W. Bush, asked about an auto rescue plan, said he hadn't decided what he would do.

Posted in: U.S. auto industry