US president Barack Obama is expected to say on Monday that GM and Chrysler will receive extra government support on top of the combined $17.4bn they have already received if they fulfil certain conditions. GM has requested an additional $16.6bn in aid and Chrysler has requested $5bn. Obama said Sunday on CBS television that the two carmakers had not yet done enough and would have to come to a deal on costcutting with bondholders and unions.

This entry was posted by Gwen Robinson on Monday, March 30th, 2009 at 5:05 and is filed under Capital markets, People. Tagged with chrysler, gm. Edit this entry.