by Calculated Risk on 11/05/2008 09:14:00 PM

From DowJones: GM Executive: Next 100 Days Critical For GM, US Auto Industry

A top General Motors Corp. (GM) executive on Wednesday said the next 100 days could represent the most crucial time in the history of the troubled company and entire U.S. auto industry.

Troy Clarke, president of GM North America, urged auto industry executives to make the case to Washington leaders that the failure of auto companies would have devastating effects on the economy.
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"I'd like to say we're done (with restructuring)," he said in a speech to the Original Equipment Suppliers Association. "But once again, market and economic conditions have continued to decline, primarily due to the recent global credit crisis and a steep decline in consumer confidence - both key to the auto business."

GM is expected to release results on Friday.