Automakers Fail in Bid for Federal Bailout
Congress May Reconsider, Journal Reports
U.S. automakers left Washington Thursday with no pledge for aid from federal lawmakers to help their plans to return to profitability, the Wall Street Journal reported Friday.
The collapse of the potential bailout came as corporate chiefs of the “Big Three” U.S. automakers — General Motors Corp., Ford Motor Co. and Chrysler LLC — sought taxpayer help for their ailing companies.
Democrats in Congress said they would reconsider a $25 billion rescue package if the three showed convincing turnaround plans by early next month, the Journal reported.
