Obama Advisers, Congressional Leaders Repeat Demands for Auto Industry Reform

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  1. WillowTree
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    Congressional leaders on Sunday reaffirmed their call for the nation's top automakers to restructure their operations if they are to receive billions of dollars in bailout money from the federal government -- and prove that they are "viable" in the long term.

    The country's Big Three automakers -- GM, Ford, and Chrysler, which combined employ nearly a quarter-million workers, have been seeking $25 billion in government loans to prevent them from going into bankruptcy.

    On Friday, Senate and House leaders temporarily denied the loan until automakers undergo fundamental restructuring, which includes labor give-backs, limits on executive pay and plans for more environmentally friendly vehicles.


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