general motors

The fate of General Motors and the rest of the Big Three may soon be decided in Washington.

US carmakers General Motors, Ford and Chrysler will present their new cost-cutting plans to Congress.

Nobody from Detroit got a particularly warm welcome in Washington last week, but the reception was coolest for General Motors, the largest and most vulnerable automaker.

General Motors has a market capitalization of just $2.1 billion. The stock, which now trades for a little more than $3.50 a share, hit a 70-year low on Thursday.

GMAC Financial Services announced Thursday that it is seeking a capital infusion from the government and trying to access the $700 billion set aside for a bailout of banks that its parent General Motors has so far been denied.

AP - GMAC Financial Services has applied to the Federal Reserve to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the Treasury's $700 billion bank rescue plan.

While General Motors executives are on Capitol Hill begging for money the automaker is also taking its case to Yahoo Finance’s news section. And you can’t escape GM’s pitch.

A bankruptcy of General Motors or another major automaker could hit American consumers hard, industry experts warn.