Arlington GM Workers to Watch Bailout Talks - NBC 5 Dallas-Fort Worth

Arlington GM Workers to Watch Bailout Talks

Arlington’s largest private employer could face bankruptcy

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    NEWSLETTERS

    Arlington GM Workers to Watch Bailout Talks
    Ford, Chrysler, GM ask Congress for help

    Bankruptcy could be on the horizon for General Motors Corp., and Arlington’s GM plant is the city’s single largest private employer.

    About 2,500 people work at the GM plant in Arlington. For them, a corporate bankruptcy would mean unemployment -- and for the city -- the loss of a major economic presence.

    GM executives will meet with leaders on Capital Hill, along with the CEO's from Chrysler and Ford to discuss a $25 billion bailout that the auto industry is asking for.

    According to published reports, GM needs at least $11 billon to meet payroll, secure loans and pay the bills.

    If the government does not come through for the carmaker, GM could be forced to file Chapter 11 Bankruptcy.

    Executives at GM attribute their troubles to high gas prices and the oncoming recession forcing new car sales to plummet.