Troubled US carmakers General Motors and Chrysler must later submit their survival plans to the government, as part of the terms of their bail-outs.
They are set to detail their latest cost-cutting programmes in order to keep multi-billion government's loans.
A US official said GM would get another $4bn ($2.8bn) on Tuesday on top of already received loans worth $10.4bn.
Chrysler is also expected to get an additional $3bn loan on Tuesday. It has already received $4bn.
Full article : BCC
Stock prices begin to tumble as the investors worry about GM and CHrysler's survivor. Read more
Will Bloom be able to make a difference?
Will the car makers come together to help each other of this situation. Yes, cost cutting by axing the human resources is one way to go but it will not solve the problem. I am simply skeptical about this whole bail out. Instead of sinking and putting efforts to save it, why not start something else given the current resources. Yes, the world is pretty dependent of the car maker and if they fall, the rest of the world supplying materials or are working with them will need to end their business. Its a domino effect. Why am i not too hopeful of this.
As much as I am a fan of the Influential man, Mr Obama, I think the people need to unite themselves and start to think positive. He cant lead the nation if everyone walks a different direction from him. Will the American unite?
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