More aid expected, but GM likely will miss restructuring deadline
The internet is ablaze with news and speculation about the next round of auto bailouts. Comments from Michigan Senators Carl Levin and Deborah Stabenow only added fuel the fire. Levin said President Barack Obama's auto task force will announce more aid for U.S. automakers within a week and possibly in a few days. Stabenow echoed the same message, and added that aid would come with conditions including "downsizing" and continued restructuring efforts.
Now the big news is that that General Motors Corporation (GM) is likely to miss its March 31 restructuring deadline. It looks like GM faces three big problems:
