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 Statement From Treasury Secretary Geithner on GM, Chrysler Restructuring Reports


2/17/2009

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Washington – The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner upon receipt of restructuring reports from Chrysler LLC and General Motors Corporation.  The reports were required under the terms of the loans made available to these companies in December to assist the domestic auto industry in becoming financially viable.

"I have received restructuring reports from both General Motors and Chrysler, and they have been posted on the Treasury website. NEC Director Summers and I will be convening the President's Task Force on Autos later this week to analyze the companies' plans and to solicit the full range of input from across the Administration on the restructuring necessary for these companies to achieve viability."

General Motors Corporation restructuring plan:
http://www.treas.gov/initiatives/eesa/agreements/auto-reports/GMRestructuringPlan.pdf

Chrysler LLC restructuring plan:
http://www.treas.gov/initiatives/eesa/agreements/auto-reports/ChryslerRestructuringPlan.pdf

 

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