Global automakers reacted with anxiety to news that General Motors and Chrysler had failed to submit acceptable plans to receive more government money, although the ousting of GM CEO Rick Wagoner was welcomed as a promising sign of change.
The failure of the restructuring proposals _ to be officially announced by the White House at 11 a.m. (1500 GMT) _ increases the likelihood that the two companies will file for bankruptcy, a scenario that would shake the wider market and worry governments and workers in several countries.
GM owns Adam Opel GmbH in Germany and Saab in Sweden, while Chrysler has a deal pending with Fiat in Italy. In Asia, Japan's Nissan and …
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