Senate and House hearings that began on Thursday could make or break the American auto industry and pose a major test of whether the White House and the incoming Obama administration can work together to save the companies from collapse. The stakes are extraordinary, with two of Detroit’s Big Three, General Motors Corp and Chrysler, near bankruptcy and a third, Ford Motor Co, at risk of being pulled down. Unlike the banking industry, the carmakers.

Full story: economictimes.indiatimes.com