>


Advertisement
Rumors
Rumor Rating Description
A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact' unless so noted.  Please visit our Hot News page for news.  If you have a rumor, or can supply more information about one listed here, e-mail us with as much supporting information as possible and we may post it. User Agreement and Disclaimer. Newer rumors supersede older ones of the same topic.  Go to our forums to discuss any rumor.
for your iPhone
for your iPad

2014 IndyCar Silly Season Page | 2014 F1 Silly Season Page (Coming)

Go to our forums to discuss this news
DATE News (chronologically)
03/20/09
automotive
Government prepared to give GM and Chrysler more money  The Treasury Department's chief auto adviser said Friday that General Motors Corp. and Chrysler LLC may need "considerably more" aid than the $21.6 billion they have sought.
And he gave the strongest signal to date that the government would pump more money into the auto industry.

Steve Rattner told Bloomberg Television's "Political Capital with Al Hunt" that the amount the two struggling automakers need "could be considerably higher. I won't deny that. There are a lot of pieces to this. The rate of car sales is the most important determinant," he said.

Chrysler has received $4 billion in government loans and wants another $5 billion. GM has received $13.4 billion and is seeking another $16.6 billion in loans and a line of credit.

"What they've asked for depends on them achieving plans that are somewhat ambitious. We haven't finished analyzing, and I'm not here to pronounce on them. But like all management teams, they tend to take a reasonably -- slightly perhaps -- optimistic view of their business. So it could be more. I can't rule that out. And I don't know when the taxpayers will get it back," Rattner said in a transcript made available by Bloomberg.

Rattner also said the Obama administration may return to Congress to seek more money for automakers, and hinted that the administration would offer additional aid to automakers.

His comments came a day after the administration agreed to use $5 billion from the Troubled Asset Relief Program to aid parts suppliers.

"The supplier money is coming from the TARP allocation, and then the administration will have to decide as we go forward where the rest would come from," Rattner said. More at Detroit News

Rumors Archives
2000 2001 2002 2003
2004200520062007
2008200920102011
2012201320142015

Search Rumors
Search Help

Banner 10000012