Carmakers may need more government aid (Dealscape

A senior member of President Obama's automotive task force said Wednesday the government "saved hundreds of thousands of jobs" through its big-budget rescue of the auto industry.

Ron Bloom, testifying before the Senate banking committee, said both Chrysler LLC and General Motors Corp. faced "uncontrolled bankruptcies and almost certain liquidation" had the government not acted. Both companies were ushered into Chapter 11 after the government refused to provide further funds absent thorough restructurings.

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284 in-depth reports of Bankruptcies in the Automotive sector
80 in-depth transaction records for General Motors
56 in-depth transaction records for Chrysler
18 articles related to Ron Bloom
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NOT A SUBSCRIBER? Carmakers may need more government aid Posted on June 11, 2009 2:00 PM A senior member of President Obama's automotive task force said Wednesday the government "saved hundreds of thousands of jobs" through its big-budget rescue of the auto industry. Ron Bloom, testifying before the Senate banking committee, said both Chrysler LLC and General Motors Corp. faced "uncontrolled bankruptcies and almost certain liquidation" had the government not acted. Both companies were ushered into Chapter 11 after the government refused to provide further funds absent thorough restructurings. 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. 284 in-depth reports of Bankruptcies in the Automotive sector 80 in-depth transaction records for General Motors 56 in-depth transaction records for Chrysler 18 articles related to Ron Bloom 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Amusement parks Deb Shops Windstream Corp. Diedrich Coffee Hanna Andersson Tween Brands Entertainment Lazard Lyondell Chemical		EXISTING USERS Username Password Forget your password? Missing a product?

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