Clock ticks for Detroit (Dealscape

The White House on Monday committed to a policy of tough love for General Motors Corp. and Chrysler LLC, pledging to do everything in its power to keep the U.S. auto industry alive but threatening to force the companies into Chapter 11 restructurings if they cannot quickly revamp their operations.

The emphasis appears to be on the "tough" part. According to sources, GM chairman and CEO Rick Wagoner, ousted over the weekend, was taken aback by the administration's decision. There are also tensions between the government and GM's bondholders, with the administration losing patience over creditor unwillingness to match tentative concessions GM has won from labor. Chrysler, meanwhile, failed to persuade the administration that it can survive as a standalone company.

This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools.

To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button.

Dig deeper, with Pipeline.

1,674 articles related to General Motors Corp.
67 articles related to Rick Wagoner
27 in-depth records of Reorganization plans in the Automotive industry
13 company pages related to Chrysler
10 years of news and analysis archives from the voice of The Deal Economy

Most searched keywords

Skadden Arps
Idearc Inc.
Deutsche Bank
Amusement parks
Deb Shops
Windstream Corp.
Concho Resources
Hanna Andersson
Tween Brands
Edward Bastian

Forward-looking intelligence allows you time to act. View this video on our restructuring content to see how you can benefit from our expertise.
NOT A SUBSCRIBER? Clock ticks for Detroit Posted on March 31, 2009 11:00 AM The White House on Monday committed to a policy of tough love for General Motors Corp. and Chrysler LLC, pledging to do everything in its power to keep the U.S. auto industry alive but threatening to force the companies into Chapter 11 restructurings if they cannot quickly revamp their operations. The emphasis appears to be on the "tough" part. According to sources, GM chairman and CEO Rick Wagoner, ousted over the weekend, was taken aback by the administration's decision. There are also tensions between the government and GM's bondholders, with the administration losing patience over creditor unwillingness to match tentative concessions GM has won from labor. Chrysler, meanwhile, failed to persuade the administration that it can survive as a standalone company. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 1,674 articles related to General Motors Corp. 67 articles related to Rick Wagoner 27 in-depth records of Reorganization plans in the Automotive industry 13 company pages related to Chrysler 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

Sales Contact Michael Crosby mcrosby@thedeal.com 212.313.9325	Media Contact Martha Brown mbrown@thedeal.com 212.313.9218
Signing in signifies that you agree to our terms and conditions. View our privacy policy.