Failure in the Auto Industry Could Affect 13 Million Jobs

"Clearly, the Ford Motor Co. has been on a plan to transform our business," he said. "It's going to be really neat to be able to explain and talk about the progress we've made transforming our Ford for the future."

Alan Mulally, Ford Motor Company President and CEO, told "Good Morning America" bankruptcy would deter customers.

(ABC News)
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If the government denies the rescue plan, one option that some experts support is bankruptcy for the major auto companies.

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For Ford, Mulally said, bankruptcy is not a viable option.

"We have been restructuring and it really doesn't work for us to go into bankruptcy because, clearly, the consumers have choices," he said. "I don't think they're going to buy from a company that's in bankruptcy."