Goal of U.S. autos task force not bankruptcy: senator
An Obama administration task force is carefully analyzing restructuring plans of General Motors Corp
Democrat Carl Levin of Michigan met with task force members this week on the turnaround plans submitted by GM and Chrysler that include a request for $22 billion more in bailout money.
Levin told reporters that the task force, led by White House and Treasury Department officials, is not excluding options, but bankruptcy is not their goal.
Separately, Democratic Sen. Debbie Stabenow, also of Michigan, said the task force is in a fact-finding mode and the review is methodical. Stabenow said auto suppliers, also hoping for aid, had a very good meeting this week with the task force.
(Reporting by John Crawley and Jeremy Pelofsky; editing by Jeffrey Benkoe)
© Copyright Thomson Reuters 2024. All rights reserved.