President Obama’s Auto Task Force Gives $5 Billion To Guarantee Parts Payments - 03/20/09
Submitted by Doug Cunningham on March 19, 2009 - 5:21pm
 Printer-friendly version Send to friendBy Doug Cunningham
The federal government is providing $5 billion to guarantee U.S. auto parts suppliers that they will be paid regardless of what happens to GM, Ford and Chrysler. It’s a boost to the auto industry ahead of a March 31st deadline when the government will decide whether to offer more financial aid to GM and Chrysler. GM has gotten $13.4 billion in loans and Chrysler $4 billion. GM says it will need up to $16.6 billion more to survive and Chrysler says it needs another $5 billion.
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