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Bush Considering 'Orderly' Auto Bankruptcy

WASHINGTON (AP) - The White House says a managed bankruptcy for
automakers is one option being considered to help save the troubled
industry.
White House press secretary Dana Perino told reporters Thursday
that "we're going to do something." The Bush administration wants
to avoid what it calls a "disorderly collapse" of car companies
that would result in devastating job losses and sweeping economic
problems.
Perino says the White House is very close to a decision. But she
did not put a timetable on when an announcement would be made, or
even whether it would come this week.
Setting up a so-called managed bankruptcy would be complicated,
involving talks with not just automakers but unions and other
stakeholders.


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