President Bush announced $13.4 billion in emergency loans to prevent the collapse of General Motors and Chrysler, and he said that another $4 billion would be available for the automakers in February. The entire bailout rests on whether the companies can reorganize to show that they can return to profitability. If the companies don’t come up with “a viable plan by March 31st,” they would be forced to repay the loans as soon as possible

The makings of a change in the culture of Washington can be seen as the President announces a breakthrough on fuel economy and greenhouse gas emissions. He is joined by the Presidents, CEOs, or other top executives from Ford, Toyota, General Motors, Honda, Chrysler, BMW AG, Nissan, Mercedez-Benz, Mazda, Volkswagon, and the United Auto Workers. May 19, 2009. (Public Domain)

President Obama Announces Chrysler Bankruptcy – Part 1 Watch part 2 here: www.youtube.com visit: firedoglake.com

Visit www.autonetwork.com for the largest collection of new car introductions. Tom lasorda, President & CEO, Chrysler Group at Economic Club of Chicago. Tom gives his insights on the future of the car business, Chryslers success and legal reform as the guest speaker for the Economic Club of Chicago. 2006 Chicago Auto Show.

The President announces that his Auto Task Force has completed its evaluation of General Motors and Chrysler, and gives his response. (public domain) … President Barack Obama White House General Motors GM Chrysler Auto Industry