Auto giant nears bankruptcy
Güncelleme Tarihi:
AFP
Oluşturulma Tarihi: Mayıs 23, 2009 00:00
WASHINGTON - The U.S. government is readying to steer General Motors to bankruptcy with a plan to fund the ailing automaker with tens of billions of dollars in extra public financing, the Washington Post said Thursday.
Under the plan the firm would get some $30 billion in extra federal loans, the newspaper said, citing unnamed industry sources. The move would push the company's federal debt to some $45 billion.
The Post report comes as General Motors was scrambling to get concessions from the powerful United Auto Workers union, as the June 1 deadline to prove its viability approached, after which government aid would be cut off.
The UAW said Thursday it had reached a "tentative understanding" with GM and the U.S. Treasury on contract changes aimed at averting bankruptcy.
A GM bankruptcy would swiftly come on the heels of fellow automaker Chrysler's bankruptcy filing, with the administration of President Barack Obama taking on drastic measures to force the automakers to restructure.
The Post report comes as General Motors was scrambling to get concessions from the powerful United Auto Workers union, as the June 1 deadline to prove its viability approached, after which government aid would be cut off.
The UAW said Thursday it had reached a "tentative understanding" with GM and the U.S. Treasury on contract changes aimed at averting bankruptcy.
A GM bankruptcy would swiftly come on the heels of fellow automaker Chrysler's bankruptcy filing, with the administration of President Barack Obama taking on drastic measures to force the automakers to restructure.