The ouster of GM boss Rick Wagoner (great name for a car company honcho) and the ultimatum to Chrysler (sign a deal with Fiat or go bankrupt) signal conclusively that the Midwest-based U.S. car industry will shrink dramatically. Any autoworkers or Michigan pols who were holding out hope for a different outcome--like let's pretend it's still 1970--have nothing to grasp now. Effectively, both companies are bankrupt anyway.
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