Merrill Lynch analyst says GM bankruptcy filing is ‘not impossible’

http://www.msnbc.msn.com/id/25495186/


" Shares of General Motors Corp. plunged Wednesday to close below $10
for the first time in more than half a century, on worries about the
company’s cash needs and speculation about a possible bankruptcy
protection filing down the road."

"June was a dismal month for the industry overall, which posted a 18.3
percent sales drop, according to Autodata Corp. Only Honda, whose
lineup is tilted toward smaller and more fuel-efficient cars, managed
to report a sales increase for June "