Meeting is promisedObama has said he will meet with industry leaders and the United Auto Workers immediately to talk about helping automakers, but auto industry officials said a meeting had not yet been scheduled. Levin said Obama expressed support for doubling an Energy Department loan program for automakers to develop fuel-saving technology to $50 billion from $25 billion. The senator said he and members of Michigan’s congressional delegation would pursue several funding options to help the industry, including the $700 billion Wall Street bailout or access to capital from the Federal Reserve.
More cuts expectedFurther cuts by both automakers are expected on Friday, and GM’s top executives sent an e-mail to other executives Wednesday saying that "important changes” will be announced just after the quarterly results are made available.
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