Detroit

Auto Industry Set to Get More Aid

When it comes to bailouts, America's attention has recently favored Wall Street—but worry not, Detroit, you'll get yours soon. On Friday President Obama's auto task force reached "final stages" in deliberation on how to deal with GM and Chrysler, reports the New York Times, and it looks like America's car companies will be getting more bailout cash, but with strings attached. Combined, GM and Chrysler have already received $17.4 billion. Administration officials say they will consider GM's and Chrysler's new financial requests separately from one another; GM would like $16.6 billion more, whereas Chrysler wants $5 billion. The task force is likely to establish short deadlines—"weeks rather than months"—for Detroit's new bailout-related tasks. Press Secretary Robert Gibbs noted that the auto industry's problems are formidable: "How do these companies get through the global recession that sees a great decrease in demand for the product? And how, when we emerge from recession to recovery, how do we have a sustainable path?"