SOURCE: Industrial Info Resources

February 19, 2009 07:00 ET

GM and Chrysler Submit Viability Plans to Congress, Ask for More Than $20 Billion in Additional Funds, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 19, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Less than two months after the CEOs of the Detroit Three -- General Motors Corporation (NYSE:GM) (Detroit, Michigan), Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Chrysler LLC (Auburn Hills, Michigan) -- sat before Congress to be grilled for days about their respective roles in the collapse of the American automotive sector, GM and Chrysler have submitted their completed viability plans to that same body and are now requesting more than $20 billion in additional bailout funding in order to survive.

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