Three options for the Big Three

US automakers are in a tough spot, and prospects for recovery are grim.

What are their options, Bankruptcy?  Bailout?

Here is a third option that is getting some attention … the Chinese are planning to buy GM and Chrysler.

China’s  21st Century Business Herald cites a senior official of China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.”

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