Big Three Bailout is Near
December 19th, 2008 | 
Author: DETROIT, Dec 18 (Reuters) – General Motors Corp and Chrysler LLC made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, people familiar with the talks said.
The package would demand sweeping restructuring at the troubled automakers in exchange for bridge loans to carry GM and Chrysler for several months, according to the sources.
Emergency federal loans for the two companies could be announced by the government as early as Friday, according to the sources who were not authorized to discuss the negotiations.
Posted in Big Three, Economy, IBEW, Michigan, Slug Notes | 
Tags: Big Three, big three automakers, big three bailout, big three loans