President Bush announced last Friday that the federal government will provide more than $17 billion in loans to keep two of the nation’s leading car makers operating. The money will go to Chrysler and General Motors. As a condition of the loans, the companies must set up viable restructuring plans or else they could be forced to file for Chapter 11 bankruptcy.
Source: http://www.10news.com/money/18333883/detail.html
Tags: Chrysler, General Motors
