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GM bankruptcy likely, CAW says

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Chrysler bankruptcy Q&A

AP Video - Friday, May 1, 2009 at 9:51 EDT

A bankruptcy expert says the automaker's plight may be a good thing for consumers, since now the federal government will back warranties

Globe and Mail Update

The leader of GM Canada's largest union says a filing by the car maker for court protection from creditors is likely.

The federal and Ontario governments have ordered the Canadian Auto Workers and General Motors of Canada Ltd. to slash hourly labour costs by May 15.

CAW president Ken Lewenza says the company faces liquidation if a cost-saving agreement is not reached.

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