Obama Official: General Motors Requesting Aid For April
19 März 2009 - 7:02PM
Dow Jones News
General Motors Corp. (GM) is requesting more aid from the U.S.
government for April, an Obama administration official said
Thursday.
GM earlier this month withdrew a request for $2 billion in loans
to get through March, saying recent cost-cutting moves eased
financial pressure on the company.
The Obama official, a member of the administration's auto task
force who spoke on condition of anonymity, said the task force is
considering a request from GM for aid in April.
The official also said the administration will make an
announcement before March 31 on the "direction" it intends to take
in response to bailout requests by GM and Chrysler.
"We do expect to have something before March 31 on the overall
situation on our direction and what we are thinking," the official
said. He said not to "expect that whatever we say before March 31
be the only thing we say. We are going to articulate something
before March 31 but not draw an inference on what that is going to
be."
GM and Chrysler have asked for up to $22 billion combined in new
government loans.
-By Josh Mitchell, Dow Jones Newswires; 202-862-6637;
joshua.mitchell@dowjones.com