More Federal Funds On Way For GM, Chrysler: Obama

Law360, New York (March 27, 2009, 12:00 AM EDT) -- President Obama has indicated that he intends to funnel more money into General Motors Corp. and Chrysler LLC, but that the deal will require the struggling automakers to institute some “painful” and “pretty drastic" changes.

Obama revealed Thursday at a virtual town hall meeting that another automaker aid package was already in the works, maintaining that the move was a necessary evil.

"We will provide them some help," the president said. “I know that it is not popular to provide help to autoworkers — or to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.