October 31, 2014
WASHINGTON (AP) - Members of an auto industry task force considering the fate of General Motors Corp. and Chrysler LLC met with lawmakers Tuesday to gather information about the struggling companies.
Sen. Carl Levin, D-Mich., said the panel was careful not to speak about the turnaround plans that had been presented by GM and Chrysler to the government last week.
His Michigan colleague, Sen. Debbie Stabenow, said the task force was in "fact-finding mode" and had met with auto suppliers on Monday. Stabenow said she "strongly discouraged" bankruptcy as a way to revamp the two companies, which are living off $17.4 billion in loans and are seeking billions more.
Obama's auto task force is trying to restructure GM and Chrysler by March 31.
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