RENEE MONTAGNE, Host: General Motors and Chrysler have until Tuesday to show the government their survival plans for their corporations. If they don't, they could lose billions in emergency government loans and face bankruptcy. In recent days, GM has announced it's cutting jobs and salaries. The Washington Post reports the company is still negotiating with bond holders and union leaders on concessions. Chrysler is also working with lenders and its union to come up with a plan in time for the February 17th deadline. Ford is also struggling but did not request government loans as its rivals did recently.
General Motors and Chrysler have until Tuesday to show the government their corporate survival plans. If they don't, they could lose billions in emergency government loans and face bankruptcy. In recent days, GM has announced it's cutting jobs and salaries. Chrysler is also working with its union and lenders to come up with a plan in time for the deadline.