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Author Topic: GM, Chrysler to Get $7 Billion in Bailout Cash  (Read 127 times)
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cinphi
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« on: February 17, 2009, 12:20:07 AM »

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General Motors and Chrysler will pick up the second installment of their federal loans today, even as the Treasury Department begins to review the two automakers' restructuring plans, also to be submitted today. The plans are supposed to outline how they intend to again become viable and repay the government loans.

GM already has received $9.4 billion in government loans and Chrysler $4 billion. Under the loan agreement, GM will receive another $4 billion and Chrysler an additional $3 billion today, said an Obama administration official, speaking on condition of anonymity because he was not authorized to discuss the payments. The second installment of loan payments had been expected.

http://www.foxnews.com/politics/first100days/2009/02/17/gm-chrysler-billion-bailout-cash/

I'm not sure it will make a difference.
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