U.S. Big Three automakers remain independent companies by June 30, 2009?

There's speculation that Ford Motor will have to join the federal aid bailout club due to worsening sales projections for 2009. Congress has already approved $17.4 billion in federal aid for General Motors and Chrysler, who both may be forced to ask for more money this year. 

Chrysler appears to be the most in need of a handout. Chrysler chief executive Robert Nardelli has acknowledged that the company's cash reserves are shrinking and that the company won't expect a rebound in Q1 2009.

GM says the $13.4 billion in federal aid it's getting will keep the company afloat through the end of March. GM, like Chrysler, is expected to show a turnaround plan by Feb. 17. Both companies must show that their game plan is working by March 31, or risk giving the loans back.

Prediction: Chrysler, GM, and Ford will remain as independent companies by the end of June. A company is no longer considered independent should any of three announce an acquisition.

Update: To clear up some confusion, any of the big 3 automakers loses its claim to "independence," or ability to run one's own operations, if the company announces an acquisition or files for bankruptucy. An automaker will lose its independent status should another company take a major stake (51% or more). In the case of Chrysler, a privately-held company split between Cereberus Capital Manager (80.1%) and Daimler AG (19.1%), Fiat's stake would not only have to increase by at least 51% but also Fiat must announce it's taking over control of Chrysler's operations. 

Image: AP Photo/Paul Sancya