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  • U.S. Senate blocks auto rescue

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U.S. Senate blocks auto rescue

The industry is reeling from depressed sales, made worse by the credit crunch and the recession and GM and Chrysler said government intervention was required now to avert potential failure. GM, Ford and Chrysler employ nearly 250,000 people directly, and 100,000 more jobs at parts suppliers could hang on their survival. The companies say 1-in-10 U.S. jobs are related to the auto sector.

Reuters | December 12, 2008Watch more videos from Reuters

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