Pelosi, Reid Set Terms For Consideration Of Auto Bailout

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Pelosi, Reid Set Terms For Consideration Of Auto Bailout

By Josh Mitchell Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Democratic leaders in Congress spelled out the terms Friday for Detroit's auto makers to be considered for government aid, calling on chief executives of the companies to provide a "credible restructuring plan" for their foundering companies.
U.S. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid said the companies would need to provide a "forthright, documented assessment" of their companies' finances, including the amount of money they need to return to stability.
-By Josh Mitchell, Dow Jones Newswires; 202-862-6637; joshua.mitchell@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=%2FyQit1qi1GWz7Y2iwr8Vcw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 21, 2008 17:10 ET (22:10 GMT)