Automakers Hope To Accelerate Bailout

Law360, New York (October 14, 2008, 12:00 AM EDT) -- With plants closing and shares plummeting, automakers are reportedly seeking more immediate access to the $25 billion loan approved by the U.S. Senate last month as they try to stay afloat amid an economic meltdown.

Reuters reported on Tuesday that General Motors, Chrysler and Ford are trying to lean on the U.S. Department of Energy to free up more quickly the funds that have been set aside for the auto industry.

On the campaign trail in Ohio, Democratic presidential nominee Sen. Barack Obama, D-Ill., lent his...
To view the full article, register now.