Whenever the subject turns to the Big Three, these days, some harsh words are likely to creep into the conversation, like "layoffs," "cutbacks", "restructuring," and even the word, "bankruptcy." This was supposed to be a good year for the domestic automakers, and indeed it is for Chrysler, which has scored a series of hits with new products like the 300C and the Magnum. Across town, the situation is far less sanguine. Both General Motors and Ford have reluctantly revised their profit forecasts downward. And few analysts believe there's going to be any near-term improvement. Both GM and Ford face some serious structural problems, including bloated retirement and healthcare costs, as well as the soaring price of steel. Making matters worse for GM, only a few of this year's new models have connected with consumers. Both companies are struggling to turn things around, but can they pull back from the abyss without resorting to something radical? Increasingly skeptical observers aren't sure that's possible. And there's no question that time is running out.
