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.
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.