Obama's Auto Task Force to arrive in Detroit today, drive GM's Volt
The task force's job is to study the automaker's plans and determine if additional funds will lead to future viability or if the government is simply throwing good money after bad. Treasury Secretary Timothy Geithner said that he's looking to see if the restructuring efforts show that the automakers are "on a path to long-term viability without government support." GM, which has already received $13.4 billion in loans, is seeking up to an additional $16.6 billion and Chrysler is looking for an additional $5 billion in addition to the $4 billion it has already received.
[Source: Automotive News subs req'd; Associated Press | Image: Bill Pugliano/Getty]
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