Detroit will be offered government cash, new rules


As might have been expected, the Administration will try to keep GM (GM) and Chrysler out of Chapter 11, but it wants conditions that the car companies may not be able to provide. A new task force has been in Detroit for several weeks reviewing the prospects of the industry.

According toThe Wall Street Journal, "the task force is expected to say that it sees viable futures for both GM and Chrysler, but only if there are sacrifices from their managements, unions and GM's bondholders."