"I think it would be a devastating impact, not just for GM. It would be a domino effect and roll over through the whole industry." Yet he also said the company is pushing government leaders to devise an assistance program. Wagoner's comments came the same day Ford CEO Alan Mulally said the company would need at least a bridge loan from the government in the coming months. Wagoner did not specify what he thinks GM needs to continue, but is hoping a package is crafted before the end of the year.