But to save you the time, the relevant text is included at the end of this article.
Essentially, word on the street is that Chinese car companies may buy "assets" of GM and Chrysler if the giant automakers declare bankruptcy. "Assets" is a term that means factories, machinery, subsidiaries, and intellectual property like designs, manufacturing techniques, patents, copyrights and trademarks.
The end of an era?
What "Assets" does not include is the huge contractual burden the big three have with groups like the UAW. But the companies have to be in bankruptcy proceedings for those contracts to be broken.
